Clean Harbors (NYSE:CLH) Given New $365.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised Clean Harbors’ price target to $365 from $360 while maintaining an “outperform” rating, implying approximately 14.26% upside from the reported share price.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $363.07. Clean Harbors also exceeded quarterly expectations, reporting $3.22 in EPS and $1.74 billion in revenue, up 11.9% year over year.
• Shares opened at $319.44, while institutional investors and hedge funds own approximately 90.43% of the stock; several company insiders recently sold shares.

Clean Harbors (NYSE:CLH - Get Free Report) had its price objective raised by analysts at Robert W. Baird from $360.00 to $365.00 in a report released on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the business services provider's stock. Robert W. Baird's price target points to a potential upside of 14.26% from the company's current price.

Several other brokerages also recently commented on CLH. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Stifel Nicolaus upped their price target on shares of Clean Harbors from $337.00 to $364.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Needham & Company LLC increased their price objective on shares of Clean Harbors from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. The Goldman Sachs Group restated a "neutral" rating on shares of Clean Harbors in a report on Wednesday, July 29th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Clean Harbors in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Clean Harbors has an average rating of "Moderate Buy" and a consensus price target of $363.07.

Clean Harbors Stock Up 1.0%

Shares of Clean Harbors stock opened at $319.44 on Thursday. The company has a market capitalization of $16.86 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 1.84 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.13 and a quick ratio of 1.80. The business has a 50-day moving average of $317.07 and a two-hundred day moving average of $305.11. Clean Harbors has a 1 year low of $201.34 and a 1 year high of $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.41. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the business posted $2.36 EPS. Clean Harbors's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities analysts predict that Clean Harbors will post 9.94 EPS for the current year.

Insiders Place Their Bets

In other news, Director Andrea Robertson sold 789 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value of $247,753.89. Following the sale, the director owned 8,979 shares of the company's stock, valued at $2,819,495.79. The trade was a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Eric Gerstenberg sold 2,500 shares of the stock in a transaction on 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 of the company's stock, valued at $18,249,862.62. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Clean Harbors

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Clean Harbors in the second quarter valued at about $1,516,521,000. Jupiter Topco LLC acquired a new position in shares of Clean Harbors during the 2nd quarter worth approximately $477,570,000. Bessemer Group Inc. raised its stake in shares of Clean Harbors by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider's stock worth $267,239,000 after purchasing an additional 16,747 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Clean Harbors by 10.0% in the 1st quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider's stock valued at $223,202,000 after buying an additional 70,447 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Clean Harbors in the second quarter valued at $142,801,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

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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