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

StockNews.com downgraded shares of Clean Harbors (NYSE:CLH) from a buy rating to a hold rating in a research note released on Friday.

Other equities analysts have also recently issued research reports about the company. Oppenheimer reduced their target price on Clean Harbors from $256.00 to $254.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Truist Financial reduced their price objective on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus lowered their target price on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group reduced their target price on shares of Clean Harbors from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, BMO Capital Markets lowered their price target on shares of Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $260.40.

Clean Harbors Trading Up 1.2 %

CLH stock opened at $207.25 on Friday. Clean Harbors has a 52-week low of $178.29 and a 52-week high of $267.11. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The firm has a market cap of $11.23 billion, a P/E ratio of 27.93 and a beta of 1.11. The company’s 50-day simple moving average is $203.26 and its 200-day simple moving average is $230.14.

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, topping analysts’ consensus estimates of $1.36 by $0.19. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. Clean Harbors’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 earnings per share. As a group, equities analysts forecast that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Speights sold 2,725 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $190.44, for a total transaction of $518,949.00. Following the completion of the sale, the insider now directly owns 40,008 shares of the company’s stock, valued at approximately $7,619,123.52. This trade represents a 6.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren States sold 308 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 $2,726,719.22. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently modified their holdings of CLH. Traynor Capital Management Inc. boosted its position in Clean Harbors by 3.6% in the 4th quarter. Traynor Capital Management Inc. now owns 1,450 shares of the business services provider’s stock valued at $334,000 after buying an additional 50 shares during the period. Williamson Legacy Group LLC boosted its holdings in Clean Harbors by 1.4% in the fourth quarter. Williamson Legacy Group LLC now owns 3,727 shares of the business services provider’s stock valued at $858,000 after purchasing an additional 53 shares during the period. Deutsche Bank AG grew its stake in Clean Harbors by 1.0% during the 4th quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider’s stock worth $1,333,000 after purchasing an additional 56 shares in the last quarter. GAMMA Investing LLC increased its holdings in Clean Harbors by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 619 shares of the business services provider’s stock worth $142,000 after purchasing an additional 57 shares during the period. Finally, Versant Capital Management Inc raised its position in Clean Harbors by 17.8% in the 4th quarter. Versant Capital Management Inc now owns 384 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About Clean Harbors

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.