Clean Harbors (NYSE:CLH) Price Target Raised to $309.00

Clean Harbors (NYSE:CLH) had its price target increased by Wells Fargo & Company from $291.00 to $309.00 in a research report sent to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the business services provider’s stock.

A number of other brokerages also recently issued reports on CLH. Raymond James Financial reiterated a “strong-buy” rating and issued a $320.00 price target on shares of Clean Harbors in a report on Monday, February 23rd. Zacks Research raised shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Oppenheimer raised their price objective on Clean Harbors from $283.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Truist Financial boosted their target price on Clean Harbors from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Clean Harbors in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Clean Harbors Trading Down 4.8%

CLH stock opened at $275.56 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.33 and a quick ratio of 2.00. Clean Harbors has a 1-year low of $178.29 and a 1-year high of $298.12. The business has a 50 day simple moving average of $274.41 and a two-hundred day simple moving average of $246.41. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 37.85 and a beta of 0.93.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Research analysts anticipate that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In related news, CFO Eric J. Dugas sold 2,788 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $281.31, for a total value of $784,292.28. Following the completion of the transaction, the chief financial officer owned 15,933 shares of the company’s stock, valued at approximately $4,482,112.23. This trade represents a 14.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 4,683 shares of Clean Harbors stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total value of $1,373,945.37. Following the completion of the transaction, the executive vice president owned 48,728 shares of the company’s stock, valued at approximately $14,296,307.92. This represents a 8.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 13,597 shares of company stock worth $3,895,286. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Corient Private Wealth LLC boosted its holdings in shares of Clean Harbors by 152.9% in the 4th quarter. Corient Private Wealth LLC now owns 12,682 shares of the business services provider’s stock worth $2,975,000 after purchasing an additional 7,667 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Clean Harbors by 309.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the business services provider’s stock valued at $96,000 after buying an additional 309 shares during the period. MidFirst Bank bought a new stake in Clean Harbors in the fourth quarter worth $28,000. Kera Capital Partners Inc. bought a new stake in Clean Harbors in the fourth quarter worth $781,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Clean Harbors by 69,453.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,081 shares of the business services provider’s stock worth $7,992,000 after buying an additional 34,032 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Company Profile

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.