Needham & Company LLC Issues Pessimistic Forecast for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its price objective cut by Needham & Company LLC from $268.00 to $255.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities research analysts have also recently issued reports on CLH. StockNews.com cut shares of Clean Harbors from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Stifel Nicolaus dropped their price objective on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Oppenheimer decreased their target price on shares of Clean Harbors from $256.00 to $254.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Robert W. Baird boosted their target price on Clean Harbors from $250.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, UBS Group reduced their price objective on Clean Harbors from $240.00 to $205.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.67.

Clean Harbors Price Performance

Clean Harbors stock opened at $222.37 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. The company’s fifty day moving average price is $201.32 and its 200 day moving average price is $227.28. The stock has a market capitalization of $11.91 billion, a P/E ratio of 29.97 and a beta of 1.19. Clean Harbors has a 1 year low of $178.29 and a 1 year high of $267.11.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.79, for a total transaction of $70,467.32. Following the completion of the sale, the director now directly owns 11,918 shares in the company, valued at $2,726,719.22. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Speights sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $190.44, for a total transaction of $518,949.00. Following the completion of the transaction, the insider now owns 40,008 shares in the company, valued at approximately $7,619,123.52. This represents a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Clean Harbors

Several institutional investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda acquired a new stake in shares of Clean Harbors in the fourth quarter valued at $32,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in Clean Harbors by 2,650.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 159 shares during the period. Allworth Financial LP grew its position in Clean Harbors by 130.4% in the 4th quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 103 shares in the last quarter. Assetmark Inc. increased its stake in Clean Harbors by 10,250.0% during the fourth quarter. Assetmark Inc. now owns 207 shares of the business services provider’s stock worth $48,000 after purchasing an additional 205 shares during the period. Finally, Physician Wealth Advisors Inc. acquired a new stake in shares of Clean Harbors during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

About Clean Harbors

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.