Clean Harbors (NYSE:CLH) Reaches New 12-Month High – Here’s Why

Clean Harbors, Inc. (NYSE:CLH) hit a new 52-week high on Friday . The stock traded as high as $252.58 and last traded at $251.7710, with a volume of 164565 shares traded. The stock had previously closed at $247.49.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $237.00 price objective on shares of Clean Harbors in a research note on Thursday, October 30th. CJS Securities upgraded Clean Harbors to a “strong-buy” rating in a report on Thursday, December 11th. Raymond James Financial dropped their price objective on shares of Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company assumed coverage on shares of Clean Harbors in a research report on Thursday, November 13th. They set an “equal weight” rating and a $220.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Clean Harbors in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Clean Harbors has an average rating of “Moderate Buy” and an average target price of $250.08.

Clean Harbors Stock Up 1.9%

The company has a market cap of $13.48 billion, a PE ratio of 35.11 and a beta of 0.95. The company has a current ratio of 2.44, a quick ratio of 2.09 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $227.93 and its 200 day moving average is $233.09.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, October 29th. The business services provider reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.16). Clean Harbors had a return on equity of 14.61% and a net margin of 6.51%.The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. As a group, analysts predict that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 601 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total value of $144,780.90. Following the completion of the sale, the chief executive officer directly owned 50,454 shares in the company, valued at approximately $12,154,368.60. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

A number of large investors have recently modified their holdings of the business. State Street Corp raised its position in shares of Clean Harbors by 0.8% in the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider’s stock valued at $351,958,000 after purchasing an additional 12,452 shares during the last quarter. Snyder Capital Management L P raised its holdings in shares of Clean Harbors by 7.9% in the third quarter. Snyder Capital Management L P now owns 1,148,504 shares of the business services provider’s stock worth $266,706,000 after buying an additional 83,638 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Clean Harbors by 8.6% during the third quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider’s stock worth $254,908,000 after buying an additional 87,322 shares during the period. Nordea Investment Management AB grew its holdings in shares of Clean Harbors by 120.8% during the fourth quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock valued at $246,725,000 after buying an additional 569,388 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Clean Harbors by 127.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider’s stock valued at $177,304,000 after acquiring an additional 504,290 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.