Clean Harbors, Inc. (NYSE:CLH) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Clean Harbors, Inc. (NYSE:CLH) has received an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $357.71.

Several equities research analysts have recently weighed in on CLH shares. Truist Financial upped their price objective on Clean Harbors from $350.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $375.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Stifel Nicolaus raised their target price on Clean Harbors from $337.00 to $364.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup boosted their price target on Clean Harbors from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on Clean Harbors from $313.00 to $349.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st.

Clean Harbors Price Performance

Shares of Clean Harbors stock opened at $319.50 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The firm’s 50-day simple moving average is $316.78 and its 200-day simple moving average is $304.38. Clean Harbors has a twelve month low of $201.34 and a twelve month high of $335.94. The firm has a market cap of $16.87 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.41. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.36 earnings per share. As a group, research analysts expect that Clean Harbors will post 9.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clean Harbors news, CEO Eric Gerstenberg sold 2,500 shares of Clean Harbors stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the completion of the transaction, the chief executive officer directly owned 56,793 shares of the company’s stock, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Robertson sold 789 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the sale, the director owned 8,979 shares in the company, valued at $2,819,495.79. This represents a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clean Harbors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Clean Harbors during the third quarter worth approximately $146,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of Clean Harbors in the third quarter valued at approximately $53,000. Triasima Portfolio Management inc. acquired a new position in shares of Clean Harbors in the 3rd quarter worth approximately $1,129,000. Assenagon Asset Management S.A. boosted its holdings in shares of Clean Harbors by 131.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 168,142 shares of the business services provider’s stock worth $52,163,000 after acquiring an additional 95,623 shares in the last quarter. Finally, Nvwm LLC boosted its holdings in shares of Clean Harbors by 3.6% in the 3rd quarter. Nvwm LLC now owns 5,314 shares of the business services provider’s stock worth $1,649,000 after acquiring an additional 186 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

About Clean Harbors

Clean Harbors, Inc provides environmental, industrial, and waste management services to commercial, industrial, government, and other customers. The company manages hazardous and non-hazardous waste through collection, transportation, treatment, recycling, and disposal services. It also provides emergency response services for chemical spills, environmental incidents, and other hazardous-material events.

Clean Harbors offers industrial maintenance and specialty services, including industrial cleaning, facility maintenance, chemical cleaning, waste handling, and turnaround support for refineries, manufacturing facilities, utilities, and other industrial operations.