Clean Harbors (NYSE:CLH) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Clean Harbors (NYSE:CLH) from a buy rating to a strong-buy rating in a research report released on Monday morning,Wall Street Zen reports.

A number of other research firms have also commented on CLH. Citigroup boosted their price objective on Clean Harbors from $378.00 to $379.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. TD Cowen lifted their price target on Clean Harbors from $390.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Weiss Ratings upgraded shares of Clean Harbors from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Raymond James Financial reissued a “strong-buy” rating on shares of Clean Harbors in a report on Thursday, October 29th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $364.00 price objective on shares of Clean Harbors in a research report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.29.

Clean Harbors Stock Performance

NYSE:CLH opened at $286.93 on Monday. Clean Harbors has a 1 year low of $201.34 and a 1 year high of $335.94. The firm has a 50 day moving average of $313.01 and a 200-day moving average of $298.55. The company has a current ratio of 1.95, a quick ratio of 1.63 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $15.13 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 1.61 and a beta of 0.87.

Clean Harbors (NYSE:CLH) last released 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. Clean Harbors had a return on equity of 18.27% and a net margin of 8.05%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company earned $2.21 EPS. Clean Harbors’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Clean Harbors will post 10.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Eric W. Gerstenberg sold 2,500 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the completion of the sale, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karyn Polito purchased 125 shares of the business’s stock in a transaction dated Thursday, October 29th. The shares were purchased at an average cost of $314.83 per share, for a total transaction of $39,353.75. Following the purchase, the director directly owned 4,252 shares of the company’s stock, valued at $1,338,657.16. This trade represents a 3.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Clean Harbors

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLH. Assetmark Inc. grew its stake in Clean Harbors by 8.9% in the first quarter. Assetmark Inc. now owns 430 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 35 shares during the period. Quadrant Capital Group LLC raised its position in shares of Clean Harbors by 0.9% during the third quarter. Quadrant Capital Group LLC now owns 4,139 shares of the business services provider’s stock worth $1,314,000 after purchasing an additional 35 shares during the period. Parallel Advisors LLC raised its position in shares of Clean Harbors by 13.6% during the third quarter. Parallel Advisors LLC now owns 317 shares of the business services provider’s stock worth $98,000 after purchasing an additional 38 shares during the period. North Dakota State Investment Board lifted its holdings in shares of Clean Harbors by 3.3% in the 3rd quarter. North Dakota State Investment Board now owns 1,555 shares of the business services provider’s stock worth $482,000 after purchasing an additional 49 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Clean Harbors by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider’s stock worth $572,000 after purchasing an additional 50 shares in the last quarter. 90.43% of the stock is owned by institutional investors.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, industrial and hazardous waste management services to businesses and government organizations. Its services include the collection, transportation, treatment and disposal of hazardous and non-hazardous waste, as well as industrial cleaning and maintenance.

The company also offers emergency spill response and related environmental services. Through its Safety-Kleen operations, Clean Harbors collects and re-refines used oil and provides parts-cleaning and other environmental services to commercial and industrial customers.

Founded in 1980 and headquartered in Norwell, Massachusetts, Clean Harbors serves customers across North America.