Clean Harbors (NYSE:CLH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Clean Harbors (NYSE:CLH) had its target price boosted by equities research analysts at Wells Fargo & Company from $309.00 to $313.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 7.40% from the company’s previous close.

Other research analysts have also recently issued reports about the company. BMO Capital Markets raised their price objective on Clean Harbors from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Zacks Research raised Clean Harbors from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $320.00 price objective on shares of Clean Harbors in a research note on Monday, February 23rd. Wall Street Zen raised Clean Harbors from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Barclays raised their price objective on Clean Harbors from $230.00 to $280.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Clean Harbors currently has an average rating of “Moderate Buy” and an average price target of $318.83.

Clean Harbors Stock Up 3.2%

CLH opened at $291.44 on Thursday. The stock has a market cap of $15.40 billion, a PE ratio of 39.49 and a beta of 0.92. The company has a quick ratio of 2.00, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. Clean Harbors has a 52 week low of $201.34 and a 52 week high of $316.98. The business’s fifty day simple moving average is $294.75 and its 200 day simple moving average is $260.80.

Clean Harbors (NYSE:CLH) last released its earnings results 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 business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. As a group, research analysts expect that Clean Harbors will post 8.26 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total transaction of $293,000.00. Following the completion of the sale, the chief executive officer directly owned 38,877 shares in the company, valued at approximately $11,390,961. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sharon M. Gabriel sold 3,540 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the sale, the executive vice president owned 23,193 shares of the company’s stock, valued at approximately $6,542,049.51. This represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,597 shares of company stock valued at $3,895,286 in the last quarter. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Clean Harbors

A number of institutional investors have recently modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Clean Harbors by 8.9% during the first quarter. Assetmark Inc. now owns 430 shares of the business services provider’s stock worth $123,000 after purchasing an additional 35 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Clean Harbors by 5.2% during the third quarter. HB Wealth Management LLC now owns 990 shares of the business services provider’s stock worth $230,000 after purchasing an additional 49 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Clean Harbors by 0.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,460 shares of the business services provider’s stock worth $2,197,000 after purchasing an additional 49 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Clean Harbors by 5.4% during the fourth quarter. GAMMA Investing LLC now owns 1,034 shares of the business services provider’s stock worth $242,000 after purchasing an additional 53 shares during the period. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of Clean Harbors by 2.3% during the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider’s stock worth $549,000 after purchasing an additional 53 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors News Summary

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Clean Harbors raised its full-year guidance after reporting margin strength, signaling management sees better profitability ahead. Clean Harbors Lifts Guidance On Margin Strength
• Positive Sentiment: The company beat profit expectations in Q1 and raised its full-year outlook, which typically supports investor confidence in future earnings power. Clean Harbors beats profit view, raises full-year outlook
• Positive Sentiment: Several analysts turned more constructive after results, including Wells Fargo, Oppenheimer, and Needham, all of which lifted price targets and reinforced a bullish long-term view. Analysts Boost Their Forecasts On Clean Harbors After Q1 Results

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.