Zacks Investment Research upgraded shares of Clean Harbors (NYSE:CLH) from a sell rating to a buy rating in a research note released on Friday morning, Zacks.com reports. The brokerage currently has $81.00 price objective on the business services provider’s stock.
According to Zacks, “Clean Harbors second-quarter 2019 earnings beat the Zacks Consensus Estimate but revenues missed the same. The company focuses on improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost management. The company continues to make capital investments to enhance its quality and comply with government and local regulations. Acquisitions have been helping Clean Harbors expand its business across multiple lines of services. Its diversified customer base provides it with stable and recurring sources of revenues. The stock has outperformed its industry year to date. On the flip side, high debt may limit the company’s future expansion and worsen its risk profile. The company remains highly exposed to foreign currency exchange rate risks. Its demand cycle is highly seasonal in nature.”
Other equities research analysts also recently issued research reports about the company. Oppenheimer raised Clean Harbors from a market perform rating to an outperform rating and set a $88.00 price objective on the stock in a research report on Thursday. CIBC raised Clean Harbors from a market perform rating to an outperform rating and set a $88.00 price objective on the stock in a research report on Thursday. UBS Group raised their price objective on Clean Harbors from $70.00 to $73.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Robert W. Baird raised their price objective on Clean Harbors from $82.00 to $85.00 and gave the company an outperform rating in a research report on Thursday. Finally, TheStreet raised Clean Harbors from a c+ rating to a b rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $81.25.
Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Clean Harbors had a return on equity of 7.46% and a net margin of 2.53%. The company had revenue of $868.68 million for the quarter, compared to the consensus estimate of $880.97 million. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts expect that Clean Harbors will post 1.88 earnings per share for the current fiscal year.
In other Clean Harbors news, Director Rod Marlin sold 4,267 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $68.58, for a total value of $292,630.86. Following the completion of the sale, the director now directly owns 37,062 shares in the company, valued at $2,541,711.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrea Robertson sold 2,557 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $78.98, for a total value of $201,951.86. Following the completion of the sale, the director now owns 13,467 shares of the company’s stock, valued at $1,063,623.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,824 shares of company stock valued at $4,110,806. 8.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CLH. Macquarie Group Ltd. purchased a new position in shares of Clean Harbors in the fourth quarter worth about $30,000. O Shaughnessy Asset Management LLC raised its stake in shares of Clean Harbors by 148.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 761 shares of the business services provider’s stock worth $54,000 after purchasing an additional 455 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Clean Harbors in the first quarter worth about $56,000. Meridian Wealth Management LLC purchased a new position in shares of Clean Harbors in the first quarter worth about $70,000. Finally, Coastal Capital Group Inc. purchased a new position in shares of Clean Harbors in the second quarter worth about $107,000. Institutional investors own 90.04% of the company’s stock.
About Clean Harbors
Clean Harbors, Inc provides environmental, energy, and industrial services in North America. The company operates through two segments, Environmental Services and Safety-Kleen. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste that include resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and CleanPack, a service to collect, identify, categorize, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous wastes.
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