Clean Harbors (NYSE:CLH) Trading Down 9.6% – Here’s Why

Clean Harbors, Inc. (NYSE:CLH)’s share price traded down 9.6% during trading on Wednesday . The company traded as low as $283.62 and last traded at $283.6820. 118,819 shares traded hands during trading, a decline of 76% from the average session volume of 488,499 shares. The stock had previously closed at $313.70.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Clean Harbors from $291.00 to $309.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 18th. Truist Financial increased their price objective on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Citigroup upgraded shares of Clean Harbors from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $302.00 to $346.00 in a research note on Wednesday, April 8th. Oppenheimer increased their price objective on shares of Clean Harbors from $283.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen upgraded shares of Clean Harbors from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Clean Harbors has a consensus rating of “Moderate Buy” and an average price target of $315.55.

Clean Harbors Price Performance

The company has a quick ratio of 2.00, a current ratio of 2.33 and a debt-to-equity ratio of 1.01. The firm has a market cap of $15.47 billion, a P/E ratio of 39.87 and a beta of 0.92. The business has a fifty day moving average of $294.61 and a 200 day moving average of $260.07.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Clean Harbors had a return on equity of 14.47% and a net margin of 6.48%.The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $1.09 earnings per share. Clean Harbors’s quarterly revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Clean Harbors, Inc. will post 8.25 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

In related news, EVP Sharon M. Gabriel sold 3,540 shares of Clean Harbors stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the completion of the transaction, the executive vice president owned 23,193 shares in the company, valued at approximately $6,542,049.51. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 4,683 shares of Clean Harbors stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total value of $1,373,945.37. Following the transaction, the executive vice president owned 48,728 shares of the company’s stock, valued at $14,296,307.92. The trade was a 8.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,597 shares of company stock valued at $3,895,286 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds have recently bought and sold shares of CLH. Elyxium Wealth LLC acquired a new stake in Clean Harbors during the fourth quarter worth approximately $26,000. Quattro Advisors LLC acquired a new stake in Clean Harbors during the fourth quarter worth approximately $26,000. MidFirst Bank acquired a new stake in Clean Harbors during the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust lifted its position in Clean Harbors by 205.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in Clean Harbors during the third quarter worth approximately $30,000. 90.43% of the stock is currently 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.