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

Clean Harbors (NYSE:CLH) had its price objective boosted by equities research analysts at UBS Group from $240.00 to $300.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group’s price target would indicate a potential upside of 3.53% from the stock’s previous close.

A number of other research firms also recently issued reports on CLH. Raymond James Financial reiterated a “strong-buy” rating and issued a $320.00 price objective on shares of Clean Harbors in a report on Monday, February 23rd. Citigroup lifted their target price on shares of Clean Harbors from $274.00 to $302.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Barclays upped their price objective on Clean Harbors from $230.00 to $280.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Clean Harbors in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Clean Harbors presently has an average rating of “Moderate Buy” and a consensus price target of $297.64.

Clean Harbors Price Performance

Shares of NYSE CLH traded up $0.24 during trading on Thursday, reaching $289.77. The company had a trading volume of 323,754 shares, compared to its average volume of 510,667. The business’s 50 day moving average price is $268.38 and its 200-day moving average price is $244.28. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The stock has a market cap of $15.33 billion, a PE ratio of 39.80 and a beta of 0.93. Clean Harbors has a 52 week low of $178.29 and a 52 week high of $298.12.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.59 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 EPS. Analysts expect that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

In related news, CFO Eric J. Dugas sold 2,788 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $281.31, for a total value of $784,292.28. Following the transaction, the chief financial officer owned 15,933 shares of the company’s stock, valued at $4,482,112.23. This represents a 14.89% 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. Also, EVP Sharon M. Gabriel sold 3,540 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $282.07, for a total value of $998,527.80. Following the sale, the executive vice president directly owned 23,193 shares of the company’s stock, valued at approximately $6,542,049.51. This trade represents a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 7,679 shares of company stock worth $2,132,403 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Clean Harbors

Hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC raised its holdings in shares of Clean Harbors by 152.9% in the 4th quarter. Corient Private Wealth LLC now owns 12,682 shares of the business services provider’s stock valued at $2,975,000 after purchasing an additional 7,667 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Clean Harbors by 309.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the business services provider’s stock worth $96,000 after buying an additional 309 shares during the period. MidFirst Bank purchased a new stake in Clean Harbors during the 4th quarter valued at about $28,000. Kera Capital Partners Inc. purchased a new stake in Clean Harbors in the fourth quarter valued at approximately $781,000. Finally, T. Rowe Price Investment Management Inc. increased its stake in shares of Clean Harbors by 69,453.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 34,081 shares of the business services provider’s stock worth $7,992,000 after acquiring an additional 34,032 shares during the period. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About Clean Harbors

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.