Clean Harbors, Inc. (NYSE:CLH) Given Average Rating of “Moderate Buy” by Brokerages

Clean Harbors, Inc. (NYSE:CLH) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $323.2308.

A number of research firms recently issued reports on CLH. TD Cowen increased their target price on Clean Harbors from $320.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Citigroup raised Clean Harbors from a “neutral” rating to a “buy” rating and increased their target price for the stock from $302.00 to $346.00 in a research note on Wednesday, April 8th. Truist Financial increased their target price on Clean Harbors from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Robert W. Baird increased their target price on Clean Harbors from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen cut Clean Harbors from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $288.01 on Wednesday. The company has a market capitalization of $15.22 billion, a price-to-earnings ratio of 39.03 and a beta of 0.87. The firm’s 50 day simple moving average is $295.14 and its 200 day simple moving average is $272.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.34 and a quick ratio of 1.99. Clean Harbors has a fifty-two week low of $201.34 and a fifty-two week high of $316.98.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. Clean Harbors’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. As a group, sell-side analysts forecast that Clean Harbors will post 8.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lauren States sold 789 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the sale, the director directly owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. This represents a 6.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the sale, the chief executive officer directly owned 38,877 shares of the company’s stock, valued at approximately $11,390,961. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,308 shares of company stock valued at $2,133,467 in the last quarter. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clean Harbors

Several hedge funds have recently made changes to their positions in CLH. Norges Bank bought a new position in shares of Clean Harbors during the 4th quarter worth approximately $152,195,000. Durable Capital Partners LP bought a new position in shares of Clean Harbors during the 3rd quarter worth approximately $133,217,000. Nordea Investment Management AB grew its stake in shares of Clean Harbors by 120.8% during the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock worth $246,725,000 after acquiring an additional 569,388 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Clean Harbors by 148.3% during the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider’s stock worth $89,287,000 after acquiring an additional 229,666 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Clean Harbors by 10.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after acquiring an additional 215,659 shares in the last quarter. 90.43% of the stock is owned by institutional investors.

Clean Harbors Company Profile

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.