Clean Harbors (NYSE:CLH) Reaches New 12-Month High After Earnings Beat

Shares of Clean Harbors, Inc. (NYSE:CLH) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $335.94 and last traded at $327.4410, with a volume of 75833 shares trading hands. The stock had previously closed at $303.67.

The business services provider reported $3.22 EPS for the quarter, beating the consensus estimate of $2.81 by $0.41. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.36 earnings per share.

Analysts Set New Price Targets

Several research analysts have commented on CLH shares. The Goldman Sachs Group boosted their target price on Clean Harbors from $268.00 to $306.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Citigroup lifted their price target on shares of Clean Harbors from $346.00 to $349.00 and gave the company a “buy” rating in a report on Friday, July 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Clean Harbors in a research note on Tuesday, July 7th. Oppenheimer raised their target price on shares of Clean Harbors from $310.00 to $316.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Clean Harbors from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Clean Harbors presently has an average rating of “Moderate Buy” and a consensus target price of $330.21.

Insider Activity at Clean Harbors

In related news, Director Lauren States sold 789 shares of Clean Harbors stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the transaction, the director directly owned 11,359 shares of the company’s stock, valued at $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Several large investors have recently modified their holdings of the company. Quattro Advisors LLC acquired a new stake in Clean Harbors during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in Clean Harbors during the fourth quarter worth $26,000. Parkside Financial Bank & Trust raised its holdings in shares of Clean Harbors by 205.1% in the 4th 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. MidFirst Bank acquired a new position in Clean Harbors during the 4th quarter valued at about $28,000. Finally, Larson Financial Group LLC increased its holdings in Clean Harbors by 676.5% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider’s stock worth $31,000 after purchasing an additional 115 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Price Performance

The stock has a market capitalization of $17.33 billion, a P/E ratio of 44.43 and a beta of 0.86. The business has a fifty day simple moving average of $293.69 and a 200 day simple moving average of $287.51. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99.

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.