Clean Harbors (NYSE:CLH) Stock Price Target Raised at Barclays

Key Points

• Barclays raised Clean Harbors’ price target from $335 to $338 while maintaining an “equal weight” rating, implying approximately 9.5% upside from the previous close.
• Analyst sentiment is generally positive: Clean Harbors has a consensus “Moderate Buy” rating and an average price target of $365.21, with targets ranging from $338 to $390.
• Clean Harbors exceeded quarterly expectations, reporting earnings of $3.93 per share versus the $3.26 consensus and revenue of $1.87 billion, up 20.7% year over year.

Clean Harbors (NYSE:CLH - Get Free Report) had its price objective raised by stock analysts at Barclays from $335.00 to $338.00 in a report released on Friday, Benzinga reports. The brokerage currently has an "equal weight" rating on the business services provider's stock. Barclays's target price points to a potential upside of 9.50% from the stock's previous close.

CLH has been the subject of several other research reports. BMO Capital Markets reissued an "outperform" rating and issued a $364.00 target price on shares of Clean Harbors in a research note on Thursday, October 15th. Needham & Company LLC increased their price target on Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Clean Harbors from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 24th. William Blair lowered shares of Clean Harbors from an "outperform" rating to a "hold" rating in a report on Wednesday, October 21st. Finally, Bank of America set a $377.00 target price on shares of Clean Harbors and gave the company a "buy" rating in a research note 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 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 $365.21.

Clean Harbors Stock Performance

Shares of CLH traded down $0.65 during mid-day trading on Friday, hitting $308.68. 5,075 shares of the company's stock were exchanged, compared to its average volume of 488,919. The firm has a market capitalization of $16.30 billion, a P/E ratio of 31.02, a P/E/G ratio of 1.82 and a beta of 0.87. The company has a current ratio of 1.95, a quick ratio of 1.80 and a debt-to-equity ratio of 0.92. Clean Harbors has a fifty-two week low of $201.34 and a fifty-two week high of $335.94. The business's 50 day moving average is $316.33 and its two-hundred day moving average is $297.48.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly 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 net margin of 8.05% and a return on equity of 18.27%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $2.21 earnings per share. The business's revenue was up 20.7% compared to the same quarter last year. On average, equities analysts expect that Clean Harbors will post 9.94 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

In other news, CEO Eric Gerstenberg sold 2,500 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $321.34, for a total transaction of $803,350.00. Following the completion of the transaction, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrea Robertson sold 789 shares of Clean Harbors stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the completion of the transaction, the director owned 8,979 shares in the company, valued at $2,819,495.79. The trade was a 8.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLH. Reyes Financial Architecture Inc. acquired a new position in Clean Harbors during the third quarter valued at approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Clean Harbors in the second quarter valued at $36,000. Elevation Wealth Partners LLC boosted its position 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 acquiring an additional 108 shares in the last quarter. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Clean Harbors in the 3rd quarter worth approximately $53,000. Finally, Root Financial Partners LLC boosted its stake 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 valued at $69,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Company Profile

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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