Stifel Nicolaus Reaffirms “Buy” Rating for Clean Harbors (NYSE:CLH)

Stifel Nicolaus reiterated their buy rating on shares of Clean Harbors (NYSE:CLH) in a research note published on Monday, Benzinga reports. The brokerage currently has a $206.00 target price on the business services provider’s stock.

Several other research analysts have also commented on CLH. Truist Financial raised their price target on shares of Clean Harbors from $200.00 to $210.00 and gave the company a buy rating in a report on Thursday, February 22nd. Wells Fargo & Company initiated coverage on shares of Clean Harbors in a research report on Friday, December 8th. They issued an overweight rating and a $190.00 price objective for the company. Oppenheimer increased their price objective on shares of Clean Harbors from $178.00 to $200.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. BMO Capital Markets increased their price objective on shares of Clean Harbors from $192.00 to $200.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Finally, Needham & Company LLC increased their price objective on shares of Clean Harbors from $182.00 to $200.00 and gave the company a buy rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Clean Harbors currently has a consensus rating of Buy and an average price target of $193.50.

Clean Harbors Price Performance

NYSE:CLH opened at $200.57 on Monday. The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 28.86 and a beta of 1.23. The company has a current ratio of 1.98, a quick ratio of 1.66 and a debt-to-equity ratio of 1.02. The company’s 50-day moving average is $182.44 and its two-hundred day moving average is $171.23. Clean Harbors has a 12-month low of $129.70 and a 12-month high of $201.01.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, February 21st. The business services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.13. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.36 billion. Clean Harbors had a net margin of 6.99% and a return on equity of 17.83%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. Research analysts expect that Clean Harbors will post 7.36 EPS for the current year.

Insider Transactions at Clean Harbors

In other news, Director John T. Preston sold 1,913 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $188.36, for a total transaction of $360,332.68. Following the completion of the sale, the director now owns 4,767 shares of the company’s stock, valued at $897,912.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eric W. Gerstenberg sold 15,276 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $187.71, for a total transaction of $2,867,457.96. Following the transaction, the chief executive officer now directly owns 67,374 shares in the company, valued at $12,646,773.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John T. Preston sold 1,913 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $188.36, for a total value of $360,332.68. Following the transaction, the director now owns 4,767 shares in the company, valued at $897,912.12. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Several large investors have recently added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new stake in Clean Harbors in the third quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in Clean Harbors in the third quarter valued at $25,000. Contravisory Investment Management Inc. bought a new stake in Clean Harbors in the fourth quarter valued at $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Clean Harbors by 76.0% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 264 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 114 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Clean Harbors during the third quarter valued at about $33,000. 90.43% of the stock is currently owned by institutional investors.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.