StockNews.com Downgrades Clean Harbors (NYSE:CLH) to Buy

by · The Cerbat Gem

StockNews.com cut shares of Clean Harbors (NYSE:CLH – Free Report) from a strong-buy rating to a buy rating in a report released on Tuesday.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and issued a $275.00 target price (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. Robert W. Baird upped their price objective on Clean Harbors from $242.00 to $268.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Truist Financial raised their target price on Clean Harbors from $240.00 to $260.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Oppenheimer boosted their price target on Clean Harbors from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Buy and an average target price of $242.40.

Check Out Our Latest Stock Analysis on CLH

Clean Harbors Stock Up 1.6 %

Clean Harbors stock opened at $258.54 on Tuesday. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 35.71 and a beta of 1.20. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.14. Clean Harbors has a 12 month low of $132.92 and a 12 month high of $258.58. The stock has a fifty day simple moving average of $241.40 and a two-hundred day simple moving average of $223.68.

Clean Harbors (NYSE:CLH – Get Free Report) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.25. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. Clean Harbors’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 EPS. Equities analysts predict that Clean Harbors will post 7.65 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 309 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the sale, the director now directly owns 13,458 shares of the company’s stock, valued at $3,284,963.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Clean Harbors news, Director Lauren States sold 309 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the sale, the director now directly owns 13,458 shares of the company’s stock, valued at $3,284,963.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the completion of the transaction, the chief executive officer now directly owns 77,136 shares in the company, valued at $18,955,400.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Grayhawk Investment Strategies Inc. bought a new stake in shares of Clean Harbors in the 4th quarter valued at about $732,000. Mountain Pacific Investment Advisers Inc. ID purchased a new position in shares of Clean Harbors in the first quarter worth $14,161,000. Perpetual Ltd lifted its stake in shares of Clean Harbors by 9.6% during the first quarter. Perpetual Ltd now owns 52,801 shares of the business services provider’s stock worth $10,629,000 after buying an additional 4,606 shares during the period. Wellington Management Group LLP grew its holdings in shares of Clean Harbors by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock valued at $637,822,000 after buying an additional 182,622 shares during the last quarter. Finally, Swedbank AB increased its position in shares of Clean Harbors by 83.3% in the 2nd quarter. Swedbank AB now owns 110,000 shares of the business services provider’s stock valued at $24,876,000 after acquiring an additional 50,000 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About Clean Harbors

(Get Free Report)

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.

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