Wall Street Zen Upgrades Clean Harbors (NYSE:CLH) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Clean Harbors from “buy” to “strong-buy.” Analysts overall rate the stock “Moderate Buy,” with an average price target of $365.29.
• Clean Harbors reported quarterly earnings of $3.93 per share, beating the $3.26 consensus estimate, while revenue rose 20.7% year over year to $1.87 billion.
• Shares opened at $284.74; the stock’s 52-week range is $201.34 to $335.94.

Clean Harbors (NYSE:CLH - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

Several other research firms have also recently commented on CLH. The Goldman Sachs Group reissued a "neutral" rating on shares of Clean Harbors in a research note on Wednesday, July 29th. UBS Group raised Clean Harbors from a "neutral" rating to a "buy" rating and increased their price target for the company from $325.00 to $375.00 in a research report on Wednesday, October 21st. TD Cowen increased their price target on Clean Harbors from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. Truist Financial set a $365.00 price objective on Clean Harbors in a research note on Thursday, October 29th. Finally, Oppenheimer boosted their price objective on Clean Harbors from $361.00 to $362.00 and gave the stock an "outperform" rating in a research report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $365.29.

Clean Harbors Price Performance

Clean Harbors stock opened at $284.74 on Monday. 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 52-week low of $201.34 and a 52-week high of $335.94. The firm has a market cap of $15.01 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. The company's 50 day moving average is $313.48 and its two-hundred day moving average is $298.42.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $3.93 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the firm posted $2.21 earnings per share. The company's quarterly revenue was up 20.7% compared to the same quarter last year. On average, research analysts expect that Clean Harbors will post 10.33 EPS for the current fiscal year.

Insider Activity at Clean Harbors

In related news, Director Karyn Polito purchased 125 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The stock was purchased at an average cost of $314.83 per share, with a total value of $39,353.75. Following the completion of the acquisition, the director directly owned 4,252 shares in the company, valued at $1,338,657.16. This trade represents a 3.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric W. 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 value of $803,350.00. Following the sale, the chief executive officer directly owned 56,793 shares of the company's stock, valued at approximately $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Clean Harbors

Large investors have recently bought and sold shares of the company. Assetmark Inc. increased its stake 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 acquiring an additional 35 shares during the period. Quadrant Capital Group LLC lifted its position in Clean Harbors by 0.9% in the third quarter. Quadrant Capital Group LLC now owns 4,139 shares of the business services provider's stock valued at $1,314,000 after purchasing an additional 35 shares during the period. Parallel Advisors LLC lifted its position in Clean Harbors by 13.6% in the third quarter. Parallel Advisors LLC now owns 317 shares of the business services provider's stock valued at $98,000 after purchasing an additional 38 shares during the period. North Dakota State Investment Board boosted its holdings in Clean Harbors by 3.3% in the 3rd quarter. North Dakota State Investment Board now owns 1,555 shares of the business services provider's stock valued at $482,000 after purchasing an additional 49 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Clean Harbors by 2.6% in the 1st quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider's stock valued at $572,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, industrial and hazardous waste management services to businesses and government organizations. Its services include the collection, transportation, treatment and disposal of hazardous and non-hazardous waste, as well as industrial cleaning and maintenance.

The company also offers emergency spill response and related environmental services. Through its Safety-Kleen operations, Clean Harbors collects and re-refines used oil and provides parts-cleaning and other environmental services to commercial and industrial customers.

Founded in 1980 and headquartered in Norwell, Massachusetts, Clean Harbors serves customers across North America.

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