Clean Harbors (NYSE:CLH) Upgraded by StockNews.com to Buy Rating

Clean Harbors (NYSE:CLH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other research analysts have also recently weighed in on CLH. 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. Oppenheimer lowered their price objective on Clean Harbors from $256.00 to $254.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. TD Cowen initiated coverage on Clean Harbors in a research report on Friday, December 6th. They set a “buy” rating and a $325.00 price objective on the stock. Stifel Nicolaus lowered their price target on Clean Harbors from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, Truist Financial lowered their price target on Clean Harbors from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. 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. Based on data from MarketBeat.com, Clean Harbors currently has an average rating of “Buy” and an average target price of $266.56.

Clean Harbors Stock Performance

NYSE CLH traded up $1.81 during trading hours on Wednesday, hitting $196.72. The company’s stock had a trading volume of 378,946 shares, compared to its average volume of 315,660. Clean Harbors has a 12 month low of $186.54 and a 12 month high of $267.11. The company’s 50 day simple moving average is $221.86 and its two-hundred day simple moving average is $237.29. The company has a market cap of $10.59 billion, a P/E ratio of 26.51 and a beta of 1.22. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.21 and a quick ratio of 1.76.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.36 by $0.19. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. Clean Harbors’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. As a group, sell-side analysts expect that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clean Harbors news, insider Robert Speights sold 2,725 shares of Clean Harbors stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $190.44, for a total value of $518,949.00. Following the sale, 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 legal filing with the SEC, which is available through the SEC website. Also, CFO Eric J. Dugas acquired 1,050 shares of Clean Harbors stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $191.38 per share, for a total transaction of $200,949.00. Following the purchase, the chief financial officer now owns 24,238 shares in the company, valued at approximately $4,638,668.44. The trade was a 4.53 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 3,341 shares of company stock valued at $663,041 in the last quarter. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clean Harbors

Large investors have recently modified their holdings of the stock. KBC Group NV raised its holdings in Clean Harbors by 17.0% during the 3rd quarter. KBC Group NV now owns 1,412 shares of the business services provider’s stock valued at $341,000 after buying an additional 205 shares during the period. CIBC Asset Management Inc raised its holdings in Clean Harbors by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 1,563 shares of the business services provider’s stock valued at $378,000 after buying an additional 53 shares during the period. Thrivent Financial for Lutherans raised its holdings in Clean Harbors by 18.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 75,803 shares of the business services provider’s stock valued at $18,323,000 after buying an additional 11,639 shares during the period. Pathstone Holdings LLC raised its holdings in Clean Harbors by 1.3% during the 3rd quarter. Pathstone Holdings LLC now owns 5,893 shares of the business services provider’s stock valued at $1,424,000 after buying an additional 73 shares during the period. Finally, Caprock Group LLC raised its holdings in Clean Harbors by 29.6% during the 3rd quarter. Caprock Group LLC now owns 1,621 shares of the business services provider’s stock valued at $392,000 after buying an additional 370 shares during the period. Institutional investors own 90.43% of the company’s stock.

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.