Clean Harbors, Inc. (NYSE:CLH) Receives $270.56 Consensus Price Target from Analysts

Clean Harbors, Inc. (NYSE:CLH) has received a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $266.56.

Several brokerages have recently issued reports on CLH. The Goldman Sachs Group cut their price target on Clean Harbors from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird cut their price target on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Truist Financial cut their target price on Clean Harbors from $280.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $268.00 target price on shares of Clean Harbors in a research note on Thursday, February 20th. Finally, BMO Capital Markets cut their target price on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th.

Clean Harbors Price Performance

Clean Harbors stock opened at $196.43 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.76 and a current ratio of 2.21. The firm has a market cap of $10.58 billion, a P/E ratio of 26.47 and a beta of 1.22. The business’s fifty day moving average is $220.56 and its two-hundred day moving average is $236.68. Clean Harbors has a 52 week low of $186.54 and a 52 week high of $267.11.

Clean Harbors (NYSE:CLH) last issued its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.19. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The business 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 firm posted $1.82 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren States sold 308 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total transaction of $70,467.32. Following the completion of the transaction, the director now directly owns 11,918 shares in the company, valued at approximately $2,726,719.22. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Eric J. Dugas acquired 1,050 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $191.38 per share, with a total value of $200,949.00. Following the completion of the acquisition, the chief financial officer now owns 24,238 shares of the company’s stock, valued at $4,638,668.44. This represents a 4.53 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 3,341 shares of company stock worth $663,041 over the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLH. Pictet Asset Management Holding SA grew its holdings in shares of 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 buying an additional 697,630 shares in the last quarter. Norges Bank bought a new position in Clean Harbors in the fourth quarter valued at approximately $136,974,000. Wellington Management Group LLP grew its stake in Clean Harbors by 17.2% in the fourth 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 in the last quarter. Raymond James Financial Inc. bought a new position in Clean Harbors in the fourth quarter valued at approximately $57,956,000. Finally, FMR LLC grew its stake in Clean Harbors by 12.0% in the third 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 in the last quarter. 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.