BMO Capital Markets Forecasts Strong Price Appreciation for Clean Harbors (NYSE:CLH) Stock

Clean Harbors (NYSE:CLH) had its price target upped by investment analysts at BMO Capital Markets from $340.00 to $342.00 in a report released on Wednesday, MarketBeat.com reports. The firm presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price points to a potential upside of 14.63% from the company’s current price.

A number of other brokerages have also recently issued reports on CLH. Needham & Company LLC upped their price objective on shares of Clean Harbors from $308.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Oppenheimer upped their price target on Clean Harbors from $310.00 to $316.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Weiss Ratings lowered Clean Harbors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 9th. The Goldman Sachs Group boosted their target price on Clean Harbors from $268.00 to $306.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen cut Clean Harbors from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $325.69.

Clean Harbors Price Performance

NYSE:CLH opened at $298.35 on Wednesday. The business’s 50-day moving average price is $292.29 and its 200 day moving average price is $280.63. The firm has a market cap of $15.77 billion, a P/E ratio of 40.43 and a beta of 0.86. Clean Harbors has a 52-week low of $201.34 and a 52-week high of $316.98. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99.

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

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 789 shares of the business’s 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 directly owned 11,359 shares of the company’s stock, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CLH. Janus Henderson Group PLC boosted its stake in Clean Harbors by 10.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after acquiring an additional 215,659 shares during the last quarter. State Street Corp raised its holdings in shares of Clean Harbors by 0.8% during the third quarter. State Street Corp now owns 1,515,621 shares of the business services provider’s stock worth $351,958,000 after acquiring an additional 12,452 shares during the period. Nordea Investment Management AB raised its holdings in shares of Clean Harbors by 120.8% during the fourth quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock worth $246,725,000 after acquiring an additional 569,388 shares during the period. Bessemer Group Inc. lifted its position in Clean Harbors by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider’s stock valued at $267,239,000 after acquiring an additional 16,747 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Clean Harbors by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider’s stock worth $215,247,000 after purchasing an additional 11,020 shares during the period. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Company Profile

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.