Clean Harbors, Inc. (NYSE:CLH) Receives $323.23 Average Target Price from Brokerages

Clean Harbors, Inc. (NYSE:CLH) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $323.2308.

A number of research firms have weighed in on CLH. Raymond James Financial reiterated a “strong-buy” rating and set a $320.00 price objective on shares of Clean Harbors in a research note on Monday, February 23rd. Truist Financial lifted their price objective on Clean Harbors from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Needham & Company LLC lifted their price objective on Clean Harbors from $308.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group lifted their price objective on Clean Harbors from $300.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Robert W. Baird lifted their price objective on Clean Harbors from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th.

Insiders Place Their Bets

In related news, CEO Eric W. Gerstenberg sold 1,000 shares of Clean Harbors stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the completion of the transaction, the chief executive officer owned 38,877 shares in the company, valued at $11,390,961. The trade was a 2.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren States sold 789 shares of Clean Harbors stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the completion of the transaction, the director owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. This represents a 6.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,308 shares of company stock worth $2,133,467 in the last 90 days. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently modified their holdings of CLH. Norges Bank purchased a new position in shares of Clean Harbors in the 4th quarter valued at about $152,195,000. Durable Capital Partners LP purchased a new position in shares of Clean Harbors in the 3rd quarter valued at about $133,217,000. Nordea Investment Management AB increased its stake in shares of Clean Harbors by 120.8% in the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock valued at $246,725,000 after purchasing an additional 569,388 shares in the last quarter. Two Sigma Investments LP increased its stake in shares of Clean Harbors by 148.3% in the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider’s stock valued at $89,287,000 after purchasing an additional 229,666 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Clean Harbors by 10.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock valued at $557,146,000 after purchasing an additional 215,659 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Stock Performance

NYSE CLH opened at $287.92 on Wednesday. The stock has a 50-day simple moving average of $295.28 and a two-hundred day simple moving average of $273.32. The firm has a market capitalization of $15.22 billion, a P/E ratio of 39.01 and a beta of 0.87. Clean Harbors has a fifty-two week low of $201.34 and a fifty-two week high of $316.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.99 and a current ratio of 2.34.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.04. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.09 EPS. On average, equities analysts forecast that Clean Harbors will post 8.5 earnings per share for the current year.

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.