Clean Harbors (NYSE:CLH) Downgraded by StockNews.com

StockNews.com cut shares of Clean Harbors (NYSE:CLH) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

CLH has been the subject of several other reports. Needham & Company LLC increased their price objective on Clean Harbors from $235.00 to $274.00 and gave the company a buy rating in a research report on Thursday, August 1st. Oppenheimer boosted their price objective on shares of Clean Harbors from $245.00 to $252.00 and gave the stock an outperform rating in a report on Thursday, August 1st. Robert W. Baird upped their price objective on shares of Clean Harbors from $242.00 to $268.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Truist Financial lifted their target price on Clean Harbors from $240.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Clean Harbors currently has a consensus rating of Buy and a consensus target price of $242.40.

Clean Harbors Stock Performance

NYSE:CLH opened at $254.47 on Tuesday. The firm has a market capitalization of $13.72 billion, a PE ratio of 36.83 and a beta of 1.20. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.14. Clean Harbors has a 1 year low of $132.92 and a 1 year high of $255.27. The firm’s fifty day simple moving average is $240.93 and its 200 day simple moving average is $223.26.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.25. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted $2.13 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that Clean Harbors will post 7.65 EPS for the current year.

Insiders Place Their Bets

In other news, Director Lauren States sold 309 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $244.09, for a total value of $75,423.81. Following the transaction, the director now directly owns 13,458 shares of the company’s stock, valued at $3,284,963.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Louis Battles sold 10,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the sale, the chief executive officer now directly owns 77,136 shares in the company, valued at approximately $18,955,400.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren States sold 309 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the transaction, the director now owns 13,458 shares in the company, valued at approximately $3,284,963.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

A number of institutional investors have recently modified their holdings of CLH. Clearbridge Investments LLC lifted its holdings in Clean Harbors by 30.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after buying an additional 248,240 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in shares of Clean Harbors during the second quarter valued at $42,968,000. Wellington Management Group LLP boosted its holdings in Clean Harbors by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after acquiring an additional 182,622 shares during the last quarter. DAVENPORT & Co LLC increased its position in Clean Harbors by 93.1% in the first quarter. DAVENPORT & Co LLC now owns 264,416 shares of the business services provider’s stock worth $53,124,000 after purchasing an additional 127,498 shares during the period. Finally, Marshall Wace LLP raised its holdings in Clean Harbors by 20.3% during the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after purchasing an additional 90,756 shares during the last quarter. 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.