Citigroup Forecasts Strong Price Appreciation for Clean Harbors (NYSE:CLH) Stock

Key Points

• Citigroup raised its Clean Harbors price target to $379 from $378 while maintaining a “buy” rating, implying 27.65% upside from the reported $296.91 share price.
• Analyst sentiment is broadly positive: Clean Harbors has a consensus “Moderate Buy” rating and an average price target of $365.29, with TD Cowen and UBS among firms recently raising targets or ratings.
• The company reported strong quarterly results, earning $3.93 per share versus a $3.26 estimate and generating $1.87 billion in revenue, up 20.7% year over year and above expectations.

Clean Harbors (NYSE:CLH - Get Free Report) had its price target upped by equities researchers at Citigroup from $378.00 to $379.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the business services provider's stock. Citigroup's price target suggests a potential upside of 27.65% from the company's current price.

A number of other research analysts have also commented on CLH. Raymond James Financial restated a "strong-buy" rating on shares of Clean Harbors in a research report on Thursday. Barclays increased their price objective on Clean Harbors from $335.00 to $338.00 and gave the stock an "equal weight" rating in a research report on Friday. Robert W. Baird set a $375.00 price objective on Clean Harbors in a research note on Thursday. TD Cowen boosted their target price on Clean Harbors from $390.00 to $395.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, UBS Group upgraded Clean Harbors from a "neutral" rating to a "buy" rating and upped their target price for the stock from $325.00 to $375.00 in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $365.29.

Clean Harbors Stock Performance

CLH stock traded down $5.21 during midday trading on Monday, hitting $296.91. The company's stock had a trading volume of 275,753 shares, compared to its average volume of 490,672. The stock's 50-day moving average price is $315.93 and its 200 day moving average price is $297.71. The company has a quick ratio of 1.63, a current ratio of 1.95 and a debt-to-equity ratio of 0.92. Clean Harbors has a 1 year low of $201.34 and a 1 year high of $335.94. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of 29.86, a PEG ratio of 1.71 and a beta of 0.87.

Clean Harbors (NYSE:CLH - Get Free Report) last released its earnings results on Wednesday, October 28th. The business services provider reported $3.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.67. Clean Harbors had a return on equity of 18.27% and a net margin of 8.05%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business posted $2.21 earnings per share. The business's revenue for the quarter was up 20.7% on a year-over-year basis. On average, equities analysts forecast that Clean Harbors will post 10.23 EPS for the current year.

Insider Transactions at Clean Harbors

In related news, CEO Eric Gerstenberg sold 2,500 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the transaction, the chief executive officer owned 56,793 shares in the company, valued at $18,249,862.62. The trade was a 4.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karyn Polito bought 125 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The shares were acquired at an average price of $314.83 per share, with a total value of $39,353.75. Following the acquisition, the director owned 4,252 shares of the company's stock, valued at $1,338,657.16. This represents a 3.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds have recently made changes to their positions in the company. Reyes Financial Architecture Inc. bought a new position in Clean Harbors in the third quarter worth $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Clean Harbors during the 2nd quarter valued at $36,000. Elevation Wealth Partners LLC boosted its holdings in shares of Clean Harbors by 317.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 142 shares of the business services provider's stock valued at $44,000 after buying an additional 108 shares in the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Clean Harbors in the 3rd quarter worth about $53,000. Finally, Root Financial Partners LLC grew its position in shares of Clean Harbors by 99.2% in the 1st quarter. Root Financial Partners LLC now owns 241 shares of the business services provider's stock worth $69,000 after buying an additional 120 shares during the period. 90.43% of the stock is currently owned by institutional investors.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy and industrial services to customers across North America. The company serves a broad range of industries, including manufacturing, government, utilities, energy and transportation, helping customers manage hazardous and non-hazardous materials, maintain industrial facilities and respond to environmental emergencies.

Its services include hazardous waste collection, transportation, treatment and disposal; incineration; recycling and waste-to-fuel programs; wastewater treatment; and used-oil collection and re-refining.

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