Clean Harbors, Inc. (NYSE:CLH) Sees Large Increase in Short Interest

Clean Harbors, Inc. (NYSE:CLH) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 561,800 shares, a growth of 8.7% from the March 15th total of 517,000 shares. Based on an average daily volume of 320,100 shares, the short-interest ratio is presently 1.8 days. Currently, 1.1% of the company’s stock are sold short.

Insider Buying and Selling at Clean Harbors

In other news, EVP Brian P. Weber sold 7,996 shares of Clean Harbors stock in a transaction that occurred on Wednesday, March 27th. The shares were 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 owns 62,803 shares of the company’s stock, valued at approximately $12,502,193.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director John T. Preston sold 1,913 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $188.36, for a total value of $360,332.68. Following the completion of the transaction, the director now directly owns 4,767 shares of the company’s stock, valued at approximately $897,912.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $199.07, for a total transaction of $1,591,763.72. Following the sale, the executive vice president now directly owns 62,803 shares in the company, valued at $12,502,193.21. The disclosure for this sale can be found here. Insiders have sold 25,185 shares of company stock worth $4,819,554 over the last quarter. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in shares of Clean Harbors during the 1st quarter worth $27,000. Contravisory Investment Management Inc. purchased a new stake in Clean Harbors in the 4th quarter valued at about $25,000. Millburn Ridgefield Corp acquired a new position in Clean Harbors in the third quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in Clean Harbors during the third quarter worth about $25,000. Finally, GAMMA Investing LLC increased its position in shares of Clean Harbors by 47.9% during the first quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CLH. BMO Capital Markets lifted their price objective on shares of Clean Harbors from $200.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. StockNews.com raised Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 29th. Stifel Nicolaus boosted their price objective on Clean Harbors from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday. Needham & Company LLC raised their target price on Clean Harbors from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, Truist Financial boosted their price target on Clean Harbors from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $207.90.

Clean Harbors Trading Down 0.2 %

Clean Harbors stock traded down $0.48 during trading on Wednesday, reaching $194.16. 221,383 shares of the company were exchanged, compared to its average volume of 268,110. The stock’s 50 day simple moving average is $190.19 and its two-hundred day simple moving average is $174.30. The company has a market capitalization of $10.61 billion, a P/E ratio of 27.92 and a beta of 1.24. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.98 and a quick ratio of 1.66. Clean Harbors has a 52-week low of $129.70 and a 52-week high of $204.06.

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

About Clean Harbors

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.