Clean Harbors’ (CLH) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Clean Harbors (NYSE:CLH) in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $268.00 price target on the business services provider’s stock.

A number of other brokerages have also recently weighed in on CLH. Stifel Nicolaus lifted their price target on shares of Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. StockNews.com cut shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird cut their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Truist Financial boosted their target price on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Oppenheimer increased their price objective on shares of Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $269.44.

Clean Harbors Stock Performance

Shares of CLH opened at $241.80 on Thursday. The company has a 50-day moving average of $242.47 and a two-hundred day moving average of $241.15. The stock has a market cap of $13.03 billion, a P/E ratio of 31.48 and a beta of 1.24. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10. Clean Harbors has a 12-month low of $163.72 and a 12-month high of $267.11.

Clean Harbors (NYSE:CLH) last released its 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 firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm posted $1.68 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that Clean Harbors will post 7.21 EPS for the current fiscal year.

Insider Activity at Clean Harbors

In other news, insider Robert Speights sold 610 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total transaction of $146,485.40. Following the transaction, the insider now directly owns 39,160 shares in the company, valued at $9,403,882.40. The trade was a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Brian P. Weber sold 861 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $261.31, for a total value of $224,987.91. Following the sale, the executive vice president now owns 59,346 shares of the company’s stock, valued at approximately $15,507,703.26. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,446 shares of company stock worth $2,112,800. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLH. Barclays PLC boosted its holdings in Clean Harbors by 44.5% in the third quarter. Barclays PLC now owns 28,056 shares of the business services provider’s stock worth $6,781,000 after purchasing an additional 8,639 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Clean Harbors by 17.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 123,813 shares of the business services provider’s stock worth $28,000,000 after acquiring an additional 18,058 shares in the last quarter. Fiduciary Alliance LLC acquired a new position in shares of Clean Harbors during the 4th quarter valued at about $846,000. Advisor Resource Council bought a new position in shares of Clean Harbors in the 3rd quarter valued at approximately $926,000. Finally, Bridges Investment Management Inc. acquired a new stake in Clean Harbors in the 2nd quarter worth approximately $729,000. 90.43% of the stock is owned by institutional investors and hedge funds.

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.