Clean Harbors (NYSE:CLH) Downgraded by StockNews.com to Buy

Clean Harbors (NYSE:CLH) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group raised their target price on shares of Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus reissued a “buy” rating and issued a $275.00 target price (up from $240.00) on shares of Clean Harbors in a report on Thursday, August 1st. Truist Financial raised their target price on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Oppenheimer raised their target price on shares of Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $242.40.

Clean Harbors Trading Down 1.8 %

Shares of CLH opened at $231.97 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.76. Clean Harbors has a 1 year low of $132.92 and a 1 year high of $247.24. The company has a 50 day simple moving average of $232.63 and a two-hundred day simple moving average of $213.76. The firm has a market cap of $12.51 billion, a P/E ratio of 33.57 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.25. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the firm posted $2.13 EPS. The company’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts expect that Clean Harbors will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alan S. Mckim sold 50,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $215.51, for a total value of $10,775,500.00. Following the completion of the sale, the insider now directly owns 2,494,211 shares in the company, valued at $537,527,412.61. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by corporate insiders.

Institutional Trading of Clean Harbors

Several institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Clean Harbors in the second quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Clean Harbors in the first quarter worth about $27,000. GAMMA Investing LLC lifted its stake in Clean Harbors by 47.9% in the first quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after acquiring an additional 56 shares during the period. National Bank of Canada FI purchased a new stake in Clean Harbors in the fourth quarter worth about $34,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Clean Harbors in the second quarter worth about $56,000. 90.43% of the stock is currently owned by institutional investors.

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.