Needham & Company LLC Reiterates “Buy” Rating for Clean Harbors Inc. (CLH)
Clean Harbors Inc. (NYSE:CLH)‘s stock had its “buy” rating restated by Needham & Company LLC in a note issued to investors on Wednesday. They currently have a $58.00 price target on the stock, down from their prior price target of $59.00. Needham & Company LLC’s target price would suggest a potential upside of 20.46% from the stock’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Clean Harbors from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Thursday, July 28th. Macquarie started coverage on shares of Clean Harbors in a research note on Thursday, August 25th. They set a “neutral” rating and a $51.00 price target for the company. Imperial Capital raised their price target on shares of Clean Harbors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Finally, Barclays PLC cut their price target on shares of Clean Harbors from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.43.
Shares of Clean Harbors (NYSE:CLH) traded up 0.33% during trading on Wednesday, reaching $48.15. The company’s stock had a trading volume of 220,902 shares. The company’s 50-day moving average is $47.48 and its 200-day moving average is $49.68. Clean Harbors has a 12 month low of $37.09 and a 12 month high of $54.54. The company has a market capitalization of $2.77 billion, a P/E ratio of 116.30 and a beta of 0.81.
Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, August 3rd. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.08. Clean Harbors had a net margin of 0.81% and a return on equity of 3.74%. The company earned $397.50 million during the quarter, compared to the consensus estimate of $727.68 million. During the same quarter in the previous year, the business posted $0.72 EPS. The firm’s quarterly revenue was down 25.5% on a year-over-year basis. On average, analysts forecast that Clean Harbors will post $0.51 EPS for the current fiscal year.
In related news, insider James M. Rutledge sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $50.74, for a total value of $811,840.00. Following the completion of the sale, the insider now owns 127,939 shares of the company’s stock, valued at $6,491,624.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrea Robertson sold 3,608 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $50.85, for a total transaction of $183,466.80. Following the completion of the sale, the director now directly owns 15,170 shares of the company’s stock, valued at approximately $771,394.50. The disclosure for this sale can be found here. 9.50% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of CLH. Raymond James Trust N.A. raised its stake in shares of Clean Harbors by 8.2% in the third quarter. Raymond James Trust N.A. now owns 6,019 shares of the company’s stock worth $289,000 after buying an additional 458 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Clean Harbors by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 18,135 shares of the company’s stock worth $870,000 after buying an additional 361 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Clean Harbors during the second quarter worth $1,245,000. Royal Bank of Canada raised its stake in shares of Clean Harbors by 1.1% in the second quarter. Royal Bank of Canada now owns 665,493 shares of the company’s stock worth $34,679,000 after buying an additional 6,935 shares in the last quarter. Finally, Calvert Investment Management Inc. bought a new stake in shares of Clean Harbors during the second quarter worth $204,000. 95.11% of the stock is owned by institutional investors and hedge funds.
Clean Harbors Company Profile
Clean Harbors, Inc is a provider of environmental, energy and industrial services. The Company operates in six segments: Technical Services; Industrial and Field Services; Kleen Performance Products; SK Environmental Services; Lodging Services, and Oil and Gas Field Services. Its Technical Services segment involves the collection, transportation, treatment and disposal of hazardous and non-hazardous wastes.
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