Clean Harbors (NYSE:CLH) Cut to Hold at StockNews.com

StockNews.com cut shares of Clean Harbors (NYSE:CLH) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other equities analysts have also commented on CLH. Stifel Nicolaus cut their price objective on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and issued a $268.00 price objective on shares of Clean Harbors in a report on Thursday, February 20th. Truist Financial cut their price objective on shares of Clean Harbors from $280.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. BMO Capital Markets cut their target price on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, TD Cowen initiated coverage on shares of Clean Harbors in a research note on Friday, December 6th. They issued a “buy” rating and a $325.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $270.56.

Clean Harbors Stock Performance

NYSE:CLH opened at $214.19 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 1.76 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 28.87 and a beta of 1.24. The firm’s fifty day simple moving average is $231.95 and its 200 day simple moving average is $241.92. Clean Harbors has a twelve month low of $180.37 and a twelve month high of $267.11.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. 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 for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business posted $1.82 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts expect that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In related news, Director Lauren States sold 308 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $239.04, for a total transaction of $73,624.32. Following the sale, the director now owns 12,226 shares in the company, valued at $2,922,503.04. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 924 shares of company stock valued at $219,570 in the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently bought and sold shares of CLH. Pictet Asset Management Holding SA raised its stake in Clean Harbors by 72.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock worth $381,602,000 after acquiring an additional 697,630 shares during the period. Norges Bank acquired a new stake in Clean Harbors during the fourth quarter worth about $136,974,000. Wellington Management Group LLP raised its stake in Clean Harbors by 17.2% during the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock worth $930,707,000 after acquiring an additional 592,341 shares during the period. Raymond James Financial Inc. acquired a new stake in Clean Harbors during the fourth quarter worth about $57,956,000. Finally, FMR LLC raised its stake in Clean Harbors by 12.0% during the third quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after acquiring an additional 187,140 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Company Profile

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.