Clean Harbors (NYSE:CLH) Reaches New 52-Week High on Analyst Upgrade

Clean Harbors, Inc. (NYSE:CLH) hit a new 52-week high on Tuesday after Needham & Company LLC raised their price target on the stock from $200.00 to $235.00. Needham & Company LLC currently has a buy rating on the stock. Clean Harbors traded as high as $203.55 and last traded at $202.81, with a volume of 4641 shares traded. The stock had previously closed at $202.35.

Other equities analysts also recently issued reports about the stock. Truist Financial upped their price objective on shares of Clean Harbors from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets raised their price objective on shares of Clean Harbors from $200.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer upped their target price on Clean Harbors from $178.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Stifel Nicolaus reissued a “buy” rating and set a $206.00 price target on shares of Clean Harbors in a report on Monday, March 25th. Finally, StockNews.com raised Clean Harbors from a “buy” rating to a “strong-buy” rating in a report on Friday, March 29th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $199.50.

Insider Transactions at Clean Harbors

In related news, EVP Brian P. Weber sold 7,996 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $199.07, for a total transaction of $1,591,763.72. Following the completion of the sale, the executive vice president now owns 62,803 shares of the company’s stock, valued at $12,502,193.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Clean Harbors news, CEO Eric W. Gerstenberg sold 15,276 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $187.71, for a total value of $2,867,457.96. Following the sale, the chief executive officer now owns 67,374 shares of the company’s stock, valued at approximately $12,646,773.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian P. Weber sold 7,996 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total value of $1,591,763.72. Following the transaction, the executive vice president now directly owns 62,803 shares of the company’s stock, valued at approximately $12,502,193.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,185 shares of company stock valued at $4,819,554. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CLH. Raymond James & Associates increased its position in Clean Harbors by 146.7% during the 1st quarter. Raymond James & Associates now owns 37,019 shares of the business services provider’s stock worth $4,133,000 after purchasing an additional 22,012 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Clean Harbors during the first quarter worth $1,672,000. HighTower Advisors LLC increased its holdings in shares of Clean Harbors by 68.7% during the first quarter. HighTower Advisors LLC now owns 7,080 shares of the business services provider’s stock worth $793,000 after buying an additional 2,883 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Clean Harbors by 122.5% in the 1st quarter. Acadian Asset Management LLC now owns 4,423 shares of the business services provider’s stock valued at $492,000 after acquiring an additional 2,435 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Clean Harbors by 33.5% during the 1st quarter. MetLife Investment Management LLC now owns 32,386 shares of the business services provider’s stock valued at $3,616,000 after acquiring an additional 8,127 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Price Performance

The company has a current ratio of 1.98, a quick ratio of 1.66 and a debt-to-equity ratio of 1.02. The firm has a market cap of $10.80 billion, a P/E ratio of 28.81 and a beta of 1.24. The business has a 50-day moving average of $188.34 and a two-hundred day moving average of $173.43.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, February 21st. The business services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.13. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Clean Harbors had a return on equity of 17.83% and a net margin of 6.99%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. On average, sell-side analysts anticipate that Clean Harbors, Inc. will post 7.35 earnings per share for the current fiscal year.

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.