Clean Harbors (NYSE:CLH) Raised to “Hold” at Zacks Research

Clean Harbors (NYSE:CLH) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on CLH. Oppenheimer reaffirmed an “outperform” rating and issued a $237.00 price objective on shares of Clean Harbors in a report on Thursday, October 30th. Barclays reduced their target price on shares of Clean Harbors from $253.00 to $230.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Citigroup started coverage on Clean Harbors in a research report on Wednesday, December 10th. They set a “neutral” rating and a $263.00 price objective for the company. UBS Group decreased their target price on Clean Harbors from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Friday, October 31st. Finally, Raymond James Financial decreased their price target on Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $250.08.

Clean Harbors Stock Up 0.6%

Clean Harbors stock traded up $1.64 during trading on Tuesday, reaching $260.64. 29,605 shares of the company’s stock were exchanged, compared to its average volume of 398,490. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 36.19 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 52-week low of $178.29 and a 52-week high of $260.67. The company’s 50-day moving average is $231.66 and its two-hundred day moving average is $233.80.

Clean Harbors (NYSE:CLH) last issued 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 in the previous year, the business posted $2.12 EPS. Clean Harbors’s revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 601 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total transaction of $144,780.90. Following the transaction, the chief executive officer directly owned 50,454 shares of the company’s stock, valued at $12,154,368.60. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC bought a new stake in Clean Harbors in the third quarter valued at $30,000. True Wealth Design LLC raised its position in Clean Harbors by 102.7% in the 4th quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock worth $36,000 after purchasing an additional 77 shares during the last quarter. Golden State Wealth Management LLC boosted its position 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 valued at $43,000 after buying an additional 109 shares during the last quarter. Bayforest Capital Ltd bought a new position in Clean Harbors during the 3rd quarter worth approximately $44,000. Finally, First Horizon Corp acquired a new position in Clean Harbors during the third quarter valued at approximately $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.