Oppenheimer Forecasts Strong Price Appreciation for Clean Harbors (NYSE:CLH) Stock

Clean Harbors (NYSE:CLH) had its target price hoisted by stock analysts at Oppenheimer from $255.00 to $256.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target suggests a potential upside of 9.33% from the company’s current price.

A number of other research firms have also weighed in on CLH. Robert W. Baird lowered their price objective on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen began coverage on shares of Clean Harbors in a research note on Friday, December 6th. They set a “buy” rating and a $325.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Clean Harbors from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Needham & Company LLC dropped their target price on Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Truist Financial boosted 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. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $269.44.

Clean Harbors Stock Performance

Shares of NYSE:CLH opened at $234.16 on Monday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10. The firm has a market cap of $12.62 billion, a PE ratio of 30.49 and a beta of 1.24. The firm’s 50 day simple moving average is $243.84 and its 200-day simple moving average is $240.84. Clean Harbors has a one year low of $162.36 and a one year high of $267.11.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the firm earned $1.68 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Clean Harbors will post 7.21 EPS for the current year.

Insider Buying and Selling

In related news, CEO Eric W. Gerstenberg sold 6,051 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $250.42, for a total value of $1,515,291.42. Following the completion of the transaction, the chief executive officer now directly owns 55,657 shares of the company’s stock, valued at $13,937,625.94. This trade represents a 9.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Speights sold 610 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $240.14, for a total transaction of $146,485.40. Following the sale, the insider now directly owns 39,160 shares in the company, valued at approximately $9,403,882.40. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,138 shares of company stock worth $2,039,175 in the last ninety days. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently made changes to their positions in CLH. UMB Bank n.a. increased its position in shares of Clean Harbors by 63.4% in the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 83 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Clean Harbors in the second quarter valued at about $56,000. Prospera Private Wealth LLC purchased a new position in shares of Clean Harbors in the third quarter worth about $56,000. CENTRAL TRUST Co lifted its holdings in shares of Clean Harbors by 161.6% during the third quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock worth $63,000 after purchasing an additional 160 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in Clean Harbors by 42.6% in the third quarter. TD Private Client Wealth LLC now owns 291 shares of the business services provider’s stock valued at $70,000 after buying an additional 87 shares during 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 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.