Oppenheimer Has Lowered Expectations for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its price target lowered by analysts at Oppenheimer from $256.00 to $254.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s target price points to a potential upside of 18.91% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $268.00 price target on shares of Clean Harbors in a report on Thursday. StockNews.com downgraded shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price target on shares of Clean Harbors from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial cut their price target on shares of Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a report on Thursday. 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 price objective for the company. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $271.11.

Clean Harbors Stock Performance

Shares of NYSE:CLH traded down $6.20 on Thursday, reaching $213.60. 362,397 shares of the company’s stock were exchanged, compared to its average volume of 392,251. The company has a fifty day moving average of $234.40 and a 200-day moving average of $242.30. Clean Harbors has a twelve month low of $176.02 and a twelve month high of $267.11. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 27.82 and a beta of 1.24. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.10.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. 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 prior year, the business posted $1.82 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that Clean Harbors will post 7.21 EPS for the current fiscal year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 308 shares of Clean Harbors stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $239.04, for a total transaction of $73,624.32. Following the completion of the sale, the director now directly owns 12,226 shares in the company, valued at $2,922,503.04. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian P. Weber sold 861 shares of Clean Harbors stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total transaction of $224,987.91. Following the sale, the executive vice president now owns 59,346 shares of the company’s stock, valued at approximately $15,507,703.26. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,785 shares of company stock worth $444,558 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Clean Harbors by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 4,659,064 shares of the business services provider’s stock valued at $1,072,237,000 after purchasing an additional 11,814 shares during the last quarter. Wellington Management Group LLP increased its position in Clean Harbors by 17.2% during the 4th quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock valued at $930,707,000 after purchasing an additional 592,341 shares during the period. Select Equity Group L.P. increased its position in Clean Harbors by 4.8% during the 4th quarter. Select Equity Group L.P. now owns 1,751,478 shares of the business services provider’s stock valued at $403,085,000 after purchasing an additional 80,436 shares during the period. FMR LLC increased its position in Clean Harbors by 12.0% during the 3rd quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock valued at $422,319,000 after purchasing an additional 187,140 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Clean Harbors by 72.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock valued at $381,602,000 after purchasing an additional 697,630 shares during the period. 90.43% of the stock is currently owned by institutional investors.

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.