Clean Harbors (NYSE:CLH) Reaches New 1-Year High – Still a Buy?

Clean Harbors, Inc. (NYSE:CLH)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $259.32 and last traded at $258.9670, with a volume of 439812 shares trading hands. The stock had previously closed at $254.08.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $237.00 price target on shares of Clean Harbors in a research report on Thursday, October 30th. Zacks Research lowered Clean Harbors from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Raymond James Financial cut their price target on shares of Clean Harbors from $277.00 to $270.00 and set a “strong-buy” rating for the company in a report on Thursday, October 30th. UBS Group reduced their price objective on shares of Clean Harbors from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Finally, Citigroup began coverage on shares of Clean Harbors in a research report on Wednesday, December 10th. They issued a “neutral” rating and a $263.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $250.08.

Clean Harbors Price Performance

The company has a 50-day moving average of $231.66 and a 200 day moving average of $233.80. The company has a quick ratio of 2.09, a current ratio of 2.44 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $13.84 billion, a PE ratio of 35.92 and a beta of 0.95.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.16). Clean Harbors had a net margin of 6.51% and a return on equity of 14.61%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts predict that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Eric W. Gerstenberg sold 601 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total transaction of $144,780.90. Following the completion of the sale, the chief executive officer owned 50,454 shares of the company’s stock, valued at approximately $12,154,368.60. This represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLH. Root Financial Partners LLC purchased a new stake in shares of Clean Harbors in the third quarter valued at approximately $30,000. True Wealth Design LLC boosted its stake in Clean Harbors by 102.7% during the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock worth $36,000 after buying an additional 77 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in Clean Harbors by 145.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider’s stock valued at $43,000 after buying an additional 109 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in shares of Clean Harbors in the 3rd quarter worth $44,000. Finally, First Horizon Corp acquired a new stake in shares of Clean Harbors in the 3rd quarter worth $44,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

About Clean Harbors

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.