Needham & Company LLC Reiterates Buy Rating for Clean Harbors (NYSE:CLH)

Clean Harbors (NYSE:CLH)‘s stock had its “buy” rating restated by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports. They currently have a $268.00 target price on the business services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 13.12% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CLH. Stifel Nicolaus lifted their price objective on shares of Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. StockNews.com downgraded shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Oppenheimer increased their price objective on shares of Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Monday. Truist Financial upped their target price on Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird dropped their price objective on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $269.44.

Clean Harbors Trading Up 0.9 %

Clean Harbors stock opened at $236.91 on Thursday. Clean Harbors has a 52-week low of $162.36 and a 52-week high of $267.11. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 30.85 and a beta of 1.24. The firm has a 50-day moving average price of $243.69 and a two-hundred day moving average price of $240.90.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.03). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.68 earnings per share. Sell-side analysts expect that Clean Harbors will post 7.21 earnings per share for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 308 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $245.06, for a total transaction of $75,478.48. Following the completion of the sale, the director now directly owns 12,534 shares of the company’s stock, valued at approximately $3,071,582.04. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric W. Gerstenberg sold 6,051 shares of Clean Harbors stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the completion of the transaction, the chief executive officer now directly owns 55,657 shares in the company, valued at approximately $13,937,625.94. This trade represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,138 shares of company stock worth $2,039,175 in the last quarter. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Clearbridge Investments LLC boosted its position in Clean Harbors by 30.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after acquiring an additional 248,240 shares during the period. FMR LLC lifted its position in shares of Clean Harbors by 12.0% in the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after purchasing an additional 187,140 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Clean Harbors by 3.0% during the third quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock worth $834,323,000 after purchasing an additional 100,394 shares during the period. Marshall Wace LLP grew its position in Clean Harbors by 20.3% during the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after purchasing an additional 90,756 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Clean Harbors during the third quarter valued at approximately $17,258,000. 90.43% of the stock is owned by institutional investors and hedge funds.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.