Clean Harbors (NYSE:CLH) Earns Buy Rating from Analysts at TD Cowen

TD Cowen initiated coverage on shares of Clean Harbors (NYSE:CLH) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $325.00 price target on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on CLH. Needham & Company LLC dropped their price target on shares of Clean Harbors from $274.00 to $268.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Robert W. Baird lowered their price target on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Truist Financial lifted their price target on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Oppenheimer raised their price objective on shares of Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Clean Harbors presently has a consensus rating of “Buy” and a consensus target price of $269.33.

Clean Harbors Price Performance

CLH stock opened at $248.00 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10. Clean Harbors has a 52 week low of $161.39 and a 52 week high of $267.11. The firm’s fifty day moving average is $252.08 and its 200 day moving average is $238.26. The firm has a market cap of $13.37 billion, a P/E ratio of 32.29 and a beta of 1.22.

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

Insider Buying and Selling at Clean Harbors

In related news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares in the company, valued at approximately $18,955,400.64. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 6,051 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 55,657 shares in the company, valued at $13,937,625.94. This represents a 9.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,447 shares of company stock valued at $4,576,829 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Clean Harbors in the second quarter worth about $25,000. UMB Bank n.a. lifted its stake in Clean Harbors by 63.4% in the third quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock worth $52,000 after acquiring an additional 83 shares during the period. Prospera Private Wealth LLC purchased a new stake in Clean Harbors in the third quarter worth about $56,000. Brown Brothers Harriman & Co. purchased a new stake in Clean Harbors in the second quarter worth about $56,000. Finally, CENTRAL TRUST Co lifted its position in shares of Clean Harbors by 161.6% during the third quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock valued at $63,000 after buying an additional 160 shares during the last quarter. Institutional investors own 90.43% of the company’s stock.

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.