Clean Harbors (NYSE:CLH) Price Target Raised to $349.00 at Wells Fargo & Company

Clean Harbors (NYSE:CLH) had its price target raised by equities researchers at Wells Fargo & Company from $313.00 to $349.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.61% from the stock’s previous close.

Several other equities analysts have also recently commented on CLH. Barclays raised their target price on shares of Clean Harbors from $305.00 to $325.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Clean Harbors in a report on Tuesday, July 7th. Truist Financial raised their price objective on shares of Clean Harbors from $350.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group boosted their target price on Clean Harbors from $300.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Citigroup increased their price target on Clean Harbors from $349.00 to $376.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.57.

Clean Harbors Stock Performance

Clean Harbors stock traded down $1.64 during mid-day trading on Friday, hitting $315.51. 53,843 shares of the company’s stock traded hands, compared to its average volume of 517,296. The firm has a 50 day moving average price of $295.12 and a 200 day moving average price of $288.53. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The company has a market cap of $16.67 billion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 2.35 and a beta of 0.86. Clean Harbors has a one year low of $201.34 and a one year high of $335.94.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Clean Harbors will post 8.62 EPS for the current year.

Insider Activity

In other Clean Harbors news, Director Lauren States sold 789 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the transaction, the director owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Hedge funds have recently modified their holdings of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. boosted its position in shares of Clean Harbors by 94.4% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 16,997 shares of the business services provider’s stock valued at $4,874,000 after purchasing an additional 8,252 shares during the period. Jefferies Financial Group Inc. acquired a new stake in Clean Harbors during the 4th quarter worth about $938,000. Tudor Investment Corp ET AL lifted its stake in Clean Harbors by 86.0% during the third quarter. Tudor Investment Corp ET AL now owns 63,104 shares of the business services provider’s stock valued at $14,654,000 after buying an additional 29,176 shares in the last quarter. Swedbank AB boosted its holdings in shares of Clean Harbors by 7.1% in the fourth quarter. Swedbank AB now owns 150,000 shares of the business services provider’s stock worth $35,172,000 after buying an additional 10,000 shares during the period. Finally, New York Life Investment Management LLC purchased a new position in shares of Clean Harbors in the fourth quarter worth approximately $1,065,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Clean Harbors

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Clean Harbors reported second-quarter EPS of $3.22, well above the $2.74–$2.81 analyst estimates and up from $2.36 a year earlier. Revenue rose 11.9% year over year to approximately $1.735 billion, also exceeding expectations. Why Clean Harbors is a Top Growth Stock for the Long-Term
• Positive Sentiment: The earnings beat and record revenue prompted multiple analysts to raise their price targets while maintaining Buy ratings. Targets increased to $376 at Citigroup, $364 at Stifel, $380 at TD Cowen and $365 at Truist, signaling continued confidence in Clean Harbors’ growth prospects. Clean Harbors Analysts Boost Their Forecasts
• Positive Sentiment: Analyst coverage remains favorable, with Clean Harbors receiving a consensus rating of Moderate Buy. The company’s year-over-year earnings and revenue growth continue to support its long-term growth-stock appeal. Clean Harbors Receives Moderate Buy Rating
• Neutral Sentiment: Despite the positive earnings momentum, Clean Harbors trades at a relatively rich valuation, including a forward-looking growth multiple and a price-to-earnings ratio near 39. That may encourage profit-taking after the recent rally.
• Negative Sentiment: GuruFocus characterized the shares as overvalued relative to its estimated intrinsic value, highlighting valuation risk even though its overall fundamental score remained strong. Clean Harbors Stock Valuation Analysis

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.