Clean Harbors, Inc. (NYSE:CLH) Sees Significant Growth in Short Interest

Clean Harbors, Inc. (NYSE:CLH) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 522,600 shares, a growth of 29.3% from the October 15th total of 404,300 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 256,000 shares, the days-to-cover ratio is presently 2.0 days.

Insider Transactions at Clean Harbors

In other news, insider Robert Speights sold 610 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total value of $146,485.40. Following the completion of the sale, the insider now owns 39,160 shares of the company’s stock, valued at approximately $9,403,882.40. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the transaction, the chief executive officer now owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,227 shares of company stock valued at $2,759,617. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLH. Innealta Capital LLC acquired a new stake in shares of Clean Harbors during the second quarter worth $25,000. UMB Bank n.a. increased its stake in Clean Harbors by 63.4% in the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock worth $52,000 after purchasing an additional 83 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Clean Harbors during the 2nd quarter worth about $56,000. Prospera Private Wealth LLC purchased a new stake in Clean Harbors during the third quarter valued at about $56,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of Clean Harbors by 161.6% in the third quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock worth $63,000 after buying an additional 160 shares during the period. Institutional investors own 90.43% of the company’s stock.

Clean Harbors Price Performance

NYSE CLH opened at $247.39 on Friday. The company’s 50 day simple moving average is $249.02 and its 200 day simple moving average is $233.70. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76. The firm has a market capitalization of $13.33 billion, a PE ratio of 32.21 and a beta of 1.20. Clean Harbors has a 12 month low of $158.42 and a 12 month high of $267.11.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.03). Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $1.68 earnings per share. Clean Harbors’s revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that Clean Harbors will post 7.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CLH. Stifel Nicolaus restated a “buy” rating and issued a $275.00 price target (up from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. Truist Financial increased their price target on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird dropped their target price on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their target price on shares of Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $254.33.

Clean Harbors Company Profile

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.