Clean Harbors (NYSE:CLH) Price Target Raised to $379.00

Clean Harbors (NYSE:CLH) had its target price raised by Citigroup from $378.00 to $379.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group reissued a “neutral” rating on shares of Clean Harbors in a report on Wednesday, July 29th. Stifel Nicolaus upped their price target on shares of Clean Harbors from $337.00 to $364.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Sunday. TD Cowen increased their price target on shares of Clean Harbors from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Clean Harbors from $313.00 to $349.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Clean Harbors currently has a consensus rating of “Moderate Buy” and an average price target of $365.29.

Clean Harbors Stock Performance

CLH opened at $288.37 on Monday. The firm has a market cap of $15.21 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87. Clean Harbors has a 52-week low of $201.34 and a 52-week high of $335.94. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.63 and a current ratio of 1.95. The business’s fifty day moving average is $314.73 and its 200-day moving average is $298.21.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, October 28th. The business services provider reported $3.93 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.67. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Clean Harbors had a return on equity of 18.27% and a net margin of 8.05%. Clean Harbors’s revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business earned $2.21 earnings per share. Sell-side analysts expect that Clean Harbors will post 10.33 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 2,500 shares of Clean Harbors stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer directly owned 56,793 shares of the company’s stock, valued at approximately $18,249,862.62. The trade was a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karyn Polito acquired 125 shares of the stock in a transaction that occurred on Thursday, October 29th. The shares were bought at an average price of $314.83 per share, with a total value of $39,353.75. Following the completion of the transaction, the director owned 4,252 shares in the company, valued at $1,338,657.16. This represents a 3.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Clean Harbors in the second quarter valued at approximately $1,516,521,000. Jupiter Topco LLC acquired a new stake in Clean Harbors during the 2nd quarter valued at approximately $477,570,000. Bessemer Group Inc. raised its holdings in Clean Harbors by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider’s stock worth $267,239,000 after purchasing an additional 16,747 shares during the last quarter. First Trust Advisors LP raised its holdings in Clean Harbors by 10.0% during the 1st quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider’s stock worth $223,202,000 after purchasing an additional 70,447 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Clean Harbors during the 2nd quarter worth approximately $142,801,000. Institutional investors own 90.43% of the company’s stock.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy and industrial services to customers across North America. The company serves a broad range of industries, including manufacturing, government, utilities, energy and transportation, helping customers manage hazardous and non-hazardous materials, maintain industrial facilities and respond to environmental emergencies.

Its services include hazardous waste collection, transportation, treatment and disposal; incineration; recycling and waste-to-fuel programs; wastewater treatment; and used-oil collection and re-refining.