Needham & Company LLC Reaffirms Buy Rating for Clean Harbors (NYSE:CLH)

Clean Harbors (NYSE:CLH)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $268.00 target price on the business services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 23.07% from the company’s previous close.

CLH has been the subject of a number of other research reports. TD Cowen assumed coverage on Clean Harbors in a research report on Friday, December 6th. They set a “buy” rating and a $325.00 price target for the company. Oppenheimer upped their target price on Clean Harbors from $255.00 to $256.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Truist Financial upped their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their price objective on Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. One equities research 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $270.56.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $217.77 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.76 and a debt-to-equity ratio of 1.08. The stock’s fifty day simple moving average is $233.16 and its two-hundred day simple moving average is $242.03. Clean Harbors has a 1-year low of $180.24 and a 1-year high of $267.11. The stock has a market cap of $11.74 billion, a PE ratio of 29.35 and a beta of 1.24.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business posted $1.82 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Clean Harbors will post 8.08 EPS for the current fiscal year.

Insider Activity

In other Clean Harbors news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $239.04, for a total value of $73,624.32. Following the sale, the director now owns 12,226 shares of the company’s stock, valued at $2,922,503.04. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Brian P. Weber sold 861 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total value of $224,987.91. Following the transaction, the executive vice president now directly owns 59,346 shares in the company, valued at approximately $15,507,703.26. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,785 shares of company stock valued at $444,558 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Large investors have recently bought and sold shares of the business. Kapitalo Investimentos Ltda purchased a new stake in shares of Clean Harbors in the 4th quarter worth $32,000. Skandinaviska Enskilda Banken AB publ increased its position in Clean Harbors by 2,650.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider’s stock valued at $38,000 after buying an additional 159 shares in the last quarter. Allworth Financial LP increased its position in Clean Harbors by 130.4% during the 4th quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock valued at $44,000 after buying an additional 103 shares in the last quarter. Assetmark Inc. increased its position in Clean Harbors by 10,250.0% during the 4th quarter. Assetmark Inc. now owns 207 shares of the business services provider’s stock valued at $48,000 after buying an additional 205 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in shares of Clean Harbors in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Company Profile

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.