Clean Harbors, Inc. (NYSE:CLH) Given Average Rating of “Buy” by Brokerages

Posted by on Jun 21st, 2022

Clean Harbors, Inc. (NYSE:CLH – Get Rating) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $126.88.

CLH has been the topic of several research reports. Raymond James lifted their price target on shares of Clean Harbors from $125.00 to $130.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 22nd. Robert W. Baird lifted their price target on shares of Clean Harbors from $128.00 to $131.00 in a research note on Thursday, May 5th. DA Davidson initiated coverage on shares of Clean Harbors in a research note on Wednesday, March 30th. They set a “buy” rating and a $130.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and set a $130.00 price target on shares of Clean Harbors in a research note on Friday, May 6th. Finally, StockNews.com downgraded shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 13th.

Shares of CLH opened at $83.04 on Tuesday. The firm’s 50 day simple moving average is $96.17 and its 200 day simple moving average is $98.30. The company has a market capitalization of $4.52 billion, a P/E ratio of 20.01 and a beta of 1.59. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.98 and a quick ratio of 1.69. Clean Harbors has a 1-year low of $81.56 and a 1-year high of $118.89.

Clean Harbors (NYSE:CLH – Get Rating) last announced its earnings results on Wednesday, May 4th. The business services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. Clean Harbors had a net margin of 5.44% and a return on equity of 14.82%. Clean Harbors’s quarterly revenue was up 44.7% on a year-over-year basis. During the same period last year, the firm posted $0.42 earnings per share. On average, equities analysts anticipate that Clean Harbors will post 4.44 earnings per share for the current year.

In related news, COO Eric W. Gerstenberg sold 6,927 shares of Clean Harbors stock in a transaction on Friday, March 25th. The shares were sold at an average price of $106.62, for a total value of $738,556.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael Louis Battles purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $88.35 per share, for a total transaction of $176,700.00. Following the acquisition, the chief financial officer now owns 70,440 shares of the company’s stock, valued at $6,223,374. The disclosure for this purchase can be found here. 6.60% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Clean Harbors by 3.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,263 shares of the business services provider’s stock valued at $325,000 after buying an additional 115 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Clean Harbors by 0.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 13,199 shares of the business services provider’s stock worth $1,317,000 after purchasing an additional 116 shares during the last quarter. Quent Capital LLC raised its position in shares of Clean Harbors by 24.4% in the 1st quarter. Quent Capital LLC now owns 623 shares of the business services provider’s stock worth $70,000 after purchasing an additional 122 shares during the last quarter. LPL Financial LLC raised its position in shares of Clean Harbors by 3.4% in the 4th quarter. LPL Financial LLC now owns 3,787 shares of the business services provider’s stock worth $378,000 after purchasing an additional 126 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of Clean Harbors by 5.3% in the 4th quarter. Stephens Inc. AR now owns 2,555 shares of the business services provider’s stock worth $255,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 86.53% of the company’s stock.

About Clean Harbors (Get Rating)

Clean Harbors, Inc provides environmental and industrial services in North America. 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 CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.

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