Stifel Nicolaus Increases Clean Harbors Inc. (CLH) Price Target to $55.00
Clean Harbors Inc. (NYSE:CLH) had its price target increased by research analysts at Stifel Nicolaus from $50.00 to $55.00 in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 11.07% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised 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. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Clean Harbors in a research report on Wednesday, November 2nd. Macquarie began coverage on Clean Harbors in a research report on Thursday, August 25th. They set a “neutral” rating and a $51.00 price target for the company. Imperial Capital upped their target price on Clean Harbors from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Finally, Needham & Company LLC reduced their target price on Clean Harbors from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $53.71.
Clean Harbors (NYSE:CLH) opened at 49.52 on Monday. The firm has a 50-day moving average price of $46.66 and a 200 day moving average price of $49.25. The company’s market capitalization is $2.84 billion. Clean Harbors has a 52-week low of $37.09 and a 52-week high of $54.54.
Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.17. The company earned $729.50 million during the quarter, compared to analysts’ expectations of $735.91 million. Clean Harbors had a negative net margin of 0.96% and a positive return on equity of 0.75%. Clean Harbors’s revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, analysts predict that Clean Harbors will post $0.14 earnings per share for the current fiscal year.
In other news, CFO Michael Louis Battles acquired 1,000 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was acquired at an average price of $44.15 per share, with a total value of $44,150.00. Following the completion of the purchase, the chief financial officer now directly owns 36,173 shares in the company, valued at $1,597,037.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian P. Weber sold 773 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $46.58, for a total transaction of $36,006.34. Following the completion of the sale, the executive vice president now directly owns 47,055 shares of the company’s stock, valued at approximately $2,191,821.90. The disclosure for this sale can be found here. 9.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Clean Harbors by 6.6% in the second quarter. Vanguard Group Inc. now owns 3,655,970 shares of the company’s stock valued at $190,513,000 after buying an additional 227,880 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Clean Harbors by 20.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,000,983 shares of the company’s stock worth $104,271,000 after buying an additional 333,636 shares during the period. BlackRock Fund Advisors increased its position in shares of Clean Harbors by 4.5% in the third quarter. BlackRock Fund Advisors now owns 1,881,623 shares of the company’s stock worth $90,280,000 after buying an additional 80,506 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Clean Harbors by 12.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,717,810 shares of the company’s stock worth $89,513,000 after buying an additional 186,113 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Clean Harbors by 2.3% in the third quarter. Capital Research Global Investors now owns 1,539,500 shares of the company’s stock worth $73,865,000 after buying an additional 34,500 shares during the period. 95.18% of the stock is owned by institutional investors and hedge funds.
About Clean Harbors
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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