Clean Harbors (NYSE:CLH) Cut to “Hold” at StockNews.com

Clean Harbors (NYSE:CLH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other research firms have also recently weighed in on CLH. Truist Financial cut their price target on shares of Clean Harbors from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. UBS Group cut their target price on shares of Clean Harbors from $240.00 to $205.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Robert W. Baird decreased their price target on shares of Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $268.00 price objective on shares of Clean Harbors in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group decreased their target price on Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Clean Harbors has an average rating of “Moderate Buy” and an average price target of $260.40.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $207.25 on Friday. 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 company has a 50-day moving average price of $203.79 and a 200-day moving average price of $230.37. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 27.93 and a beta of 1.11. Clean Harbors has a 12 month low of $178.29 and a 12 month high of $267.11.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business earned $1.82 EPS. Clean Harbors’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Clean Harbors will post 7.89 EPS for the current year.

Insider Buying and Selling

In other news, insider Robert Speights sold 2,725 shares of Clean Harbors stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $190.44, for a total value of $518,949.00. Following the completion of the transaction, the insider now owns 40,008 shares of the company’s stock, valued at $7,619,123.52. The trade was a 6.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren States sold 308 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.79, for a total transaction of $70,467.32. Following the sale, the director now owns 11,918 shares of the company’s stock, valued at approximately $2,726,719.22. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clean Harbors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new position in shares of Clean Harbors in the fourth quarter worth $32,000. Skandinaviska Enskilda Banken AB publ raised its position in Clean Harbors by 2,650.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider’s stock worth $38,000 after buying an additional 159 shares during the last quarter. Allworth Financial LP raised its position in Clean Harbors by 130.4% in the 4th quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock worth $44,000 after buying an additional 103 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of 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 acquiring an additional 205 shares during the last quarter. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Clean Harbors in the fourth quarter worth approximately $56,000. 90.43% of the stock is owned by institutional investors.

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.