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

Clean Harbors (NYSE:CLH) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

CLH has been the topic of a number of other reports. William Blair lowered Clean Harbors from an “outperform” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Clean Harbors in a research note on Wednesday, July 29th. TD Cowen increased their price objective on shares of Clean Harbors from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. UBS Group upgraded shares of Clean Harbors from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $325.00 to $375.00 in a report on Wednesday. Finally, Truist Financial raised their target price on shares of Clean Harbors from $350.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Clean Harbors presently has a consensus rating of “Moderate Buy” and an average price target of $363.07.

Clean Harbors Price Performance

CLH stock opened at $319.02 on Friday. Clean Harbors has a 52-week low of $201.34 and a 52-week high of $335.94. The stock’s fifty day simple moving average is $317.02 and its 200-day simple moving average is $305.42. The company has a quick ratio of 1.80, a current ratio of 2.13 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 38.72, a price-to-earnings-growth ratio of 1.85 and a beta of 0.87.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the business earned $2.36 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts expect that Clean Harbors will post 9.94 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andrea Robertson sold 789 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the transaction, the director directly owned 8,979 shares of the company’s stock, valued at approximately $2,819,495.79. This trade represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Eric Gerstenberg sold 2,500 shares of Clean Harbors stock in a transaction on Friday, August 14th. The shares were sold at an average price of $321.34, for a total value of $803,350.00. Following the completion of the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Clean Harbors in the 2nd quarter valued at about $1,516,521,000. Jupiter Topco LLC purchased a new stake in shares of Clean Harbors during the 2nd quarter worth about $477,570,000. Bessemer Group Inc. grew its holdings in shares of Clean Harbors by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider’s stock worth $267,239,000 after purchasing an additional 16,747 shares during the period. First Trust Advisors LP grew its holdings in shares of Clean Harbors by 10.0% during the 1st quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider’s stock worth $223,202,000 after purchasing an additional 70,447 shares during the period. Finally, Bank of America Corp DE acquired a new stake in Clean Harbors during the 2nd quarter worth approximately $142,801,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy and industrial services to customers across North America. The company serves a broad range of industries, including manufacturing, government, utilities, energy and transportation, helping customers manage hazardous and non-hazardous materials, maintain industrial facilities and respond to environmental emergencies.

Its services include hazardous waste collection, transportation, treatment and disposal; incineration; recycling and waste-to-fuel programs; wastewater treatment; and used-oil collection and re-refining.