Clean Harbors (NYSE:CLH) Reaches New 52-Week High – Still a Buy?

Shares of Clean Harbors, Inc. (NYSE:CLH) hit a new 52-week high on Thursday . The company traded as high as $289.00 and last traded at $287.16, with a volume of 13593 shares. The stock had previously closed at $286.04.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CLH. Truist Financial raised their target price on shares of Clean Harbors from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. UBS Group decreased their price objective on Clean Harbors from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Friday, October 31st. TD Cowen reaffirmed a “buy” rating on shares of Clean Harbors in a report on Thursday, February 19th. The Goldman Sachs Group boosted their price target on Clean Harbors from $228.00 to $253.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Finally, Needham & Company LLC raised their price objective on shares of Clean Harbors from $290.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Clean Harbors has a consensus rating of “Moderate Buy” and an average target price of $292.18.

Clean Harbors Price Performance

The firm has a market capitalization of $15.22 billion, a PE ratio of 39.47 and a beta of 0.96. The company has a quick ratio of 2.00, a current ratio of 2.33 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $258.07 and a 200 day moving average price of $241.08.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $1.55 EPS. Clean Harbors’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts forecast that Clean Harbors, Inc. will post 7.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 601 shares of Clean Harbors stock in a transaction dated 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 owned 50,454 shares in the company, valued at $12,154,368.60. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sharon M. Gabriel sold 3,540 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the completion of the sale, the executive vice president directly owned 23,193 shares in the company, valued at $6,542,049.51. This represents a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,679 shares of company stock valued at $2,132,403 in the last three months. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Clean Harbors by 10.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after purchasing an additional 215,659 shares during the period. State Street Corp increased its stake in shares of Clean Harbors by 0.8% in the third quarter. State Street Corp now owns 1,515,621 shares of the business services provider’s stock worth $351,958,000 after buying an additional 12,452 shares during the last quarter. Snyder Capital Management L P raised its holdings in 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 valued at $266,706,000 after acquiring an additional 83,638 shares in the last quarter. Bessemer Group Inc. increased its holdings in Clean Harbors by 8.6% in the third quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider’s stock valued at $254,908,000 after buying an additional 87,322 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Clean Harbors by 120.8% in the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock worth $246,725,000 after buying an additional 569,388 shares during the last quarter. Institutional investors and hedge funds 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.