Needham & Company LLC Boosts Clean Harbors (NYSE:CLH) Price Target to $290.00

Clean Harbors (NYSE:CLH) had its price objective hoisted by investment analysts at Needham & Company LLC from $255.00 to $290.00 in a report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 9.77% from the company’s current price.

Several other equities analysts have also recently issued reports on CLH. Zacks Research upgraded Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Barclays dropped their price objective on Clean Harbors from $253.00 to $230.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Raymond James Financial reduced their target price on Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating for the company in a report on Thursday, October 30th. CJS Securities raised shares of Clean Harbors to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Wells Fargo & Company began coverage on shares of Clean Harbors in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $220.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $253.92.

Clean Harbors Stock Performance

Shares of CLH opened at $264.20 on Tuesday. The stock has a market capitalization of $14.12 billion, a P/E ratio of 36.64 and a beta of 0.95. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.09 and a current ratio of 2.44. Clean Harbors has a 1 year low of $178.29 and a 1 year high of $268.22. The company’s fifty day moving average is $235.19 and its two-hundred day moving average is $234.54.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, October 29th. The business services provider reported $2.21 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.16). Clean Harbors had a return on equity of 14.61% and a net margin of 6.51%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business posted $2.12 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Activity at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 601 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total value of $144,780.90. Following the sale, the chief executive officer directly owned 50,454 shares in the company, valued at $12,154,368.60. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clean Harbors

Institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in Clean Harbors in the 3rd quarter valued at about $30,000. True Wealth Design LLC raised its position in shares of Clean Harbors by 102.7% in the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock valued at $36,000 after buying an additional 77 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Clean Harbors by 145.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider’s stock worth $43,000 after acquiring an additional 109 shares during the period. Bayforest Capital Ltd acquired a new position in Clean Harbors in the 3rd quarter valued at $44,000. Finally, First Horizon Corp purchased a new position in shares of Clean Harbors during the 3rd quarter worth $44,000. 90.43% of the stock is owned by institutional investors and hedge funds.

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.