Clean Harbors (NYSE:CLH) Shares Gap Up on Better-Than-Expected Earnings

Clean Harbors, Inc. (NYSE:CLHGet Rating) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $98.23, but opened at $106.64. Clean Harbors shares last traded at $109.57, with a volume of 4,310 shares trading hands.

The business services provider reported $2.44 EPS for the quarter, beating the consensus estimate of $1.53 by $0.91. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.23 billion. Clean Harbors had a net margin of 5.44% and a return on equity of 14.82%. The company’s quarterly revenue was up 46.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Needham & Company LLC upped their price objective on shares of Clean Harbors from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird upped their price objective on shares of Clean Harbors from $131.00 to $150.00 in a research note on Thursday. BMO Capital Markets boosted their price target on shares of Clean Harbors from $104.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Raymond James boosted their price target on shares of Clean Harbors from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $133.00.

Insiders Place Their Bets

In other Clean Harbors news, Director Lauren States sold 750 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $90.68, for a total value of $68,010.00. Following the sale, the director now owns 12,332 shares in the company, valued at $1,118,265.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Clean Harbors news, Director Lauren States sold 750 shares of the company’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $90.68, for a total value of $68,010.00. Following the sale, the director now owns 12,332 shares in the company, valued at $1,118,265.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Louis Battles purchased 2,000 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were purchased 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. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

A number of institutional investors have recently made changes to their positions in CLH. Lazard Asset Management LLC purchased a new stake in shares of Clean Harbors during the fourth quarter valued at approximately $27,000. UMB Bank N A MO lifted its position in Clean Harbors by 656.3% during the first quarter. UMB Bank N A MO now owns 242 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 210 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Clean Harbors during the first quarter valued at approximately $29,000. First Horizon Advisors Inc. lifted its position in Clean Harbors by 149.3% during the second quarter. First Horizon Advisors Inc. now owns 339 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 203 shares during the period. Finally, Huntington National Bank lifted its position in Clean Harbors by 153.9% during the first quarter. Huntington National Bank now owns 391 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 86.53% of the company’s stock.

Clean Harbors Trading Down 1.1 %

The company has a debt-to-equity ratio of 1.58, a current ratio of 1.98 and a quick ratio of 1.69. The company has a market cap of $5.82 billion, a P/E ratio of 25.76 and a beta of 1.53. The stock’s 50-day moving average is $90.81 and its two-hundred day moving average is $96.60.

Clean Harbors Company Profile

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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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