Clean Harbors (NYSE:CLH) Price Target Raised to $290.00

Clean Harbors (NYSE:CLH) had its target price lifted by Stifel Nicolaus from $270.00 to $290.00 in a report released on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the business services provider’s stock.

CLH has been the topic of several other reports. Needham & Company LLC cut their price objective on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen started coverage on Clean Harbors in a research note on Friday, December 6th. They issued a “buy” rating and a $325.00 price target on the stock. StockNews.com lowered Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on shares of Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Oppenheimer lifted their price target on shares of Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $271.00.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $244.35 on Wednesday. The business has a 50 day moving average of $252.32 and a 200 day moving average of $238.96. Clean Harbors has a 52 week low of $161.39 and a 52 week high of $267.11. The company has a market cap of $13.17 billion, a PE ratio of 31.82 and a beta of 1.22. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Clean Harbors will post 7.21 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

In other news, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares in the company, valued at $18,955,400.64. This represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Speights sold 610 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $240.14, for a total transaction of $146,485.40. Following the completion of the transaction, the insider now owns 39,160 shares of the company’s stock, valued at approximately $9,403,882.40. The trade was a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,447 shares of company stock worth $4,576,829. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Institutional investors have recently modified their holdings of the business. Swedbank AB raised its position in Clean Harbors by 83.3% in the 2nd quarter. Swedbank AB now owns 110,000 shares of the business services provider’s stock worth $24,876,000 after buying an additional 50,000 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Clean Harbors by 17.1% during the second quarter. Driehaus Capital Management LLC now owns 123,813 shares of the business services provider’s stock valued at $28,000,000 after purchasing an additional 18,058 shares during the last quarter. Bridges Investment Management Inc. bought a new position in Clean Harbors during the second quarter valued at approximately $729,000. Advisor Resource Council purchased a new stake in Clean Harbors in the third quarter worth approximately $926,000. Finally, Anthracite Investment Company Inc. bought a new stake in Clean Harbors in the 3rd quarter worth approximately $1,692,000. 90.43% of the stock is owned by hedge funds and other 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.