Clean Harbors, Inc. (NYSE:CLH) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Clean Harbors received an average analyst rating of “Moderate Buy” from 16 research firms, with an average 1-year price target of about $323.23.
• The company reported first-quarter EPS of $1.19, beating estimates, while revenue came in at $1.46 billion, slightly below expectations but still up 1.9% year over year.
• Shares rose 3.5% in recent trading, and the stock is backed by strong institutional ownership, with 90.43% held by hedge funds and other institutions.

Shares of Clean Harbors, Inc. (NYSE:CLH - Get Free Report) have been given an average recommendation of "Moderate Buy" by the sixteen research firms that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $323.2308.

CLH has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Raymond James Financial restated a "strong-buy" rating and set a $320.00 target price on shares of Clean Harbors in a research report on Monday, February 23rd. Citigroup upgraded shares of Clean Harbors from a "neutral" rating to a "buy" rating and upped their target price for the company from $302.00 to $346.00 in a research report on Wednesday, April 8th. TD Cowen upped their target price on shares of Clean Harbors from $320.00 to $335.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group upped their target price on shares of Clean Harbors from $268.00 to $306.00 and gave the company a "neutral" rating in a research report on Wednesday, April 8th.

Clean Harbors Stock Up 3.5%

Shares of NYSE CLH opened at $288.01 on Wednesday. The firm's 50-day simple moving average is $295.14 and its 200 day simple moving average is $272.16. The company has a market cap of $15.22 billion, a price-to-earnings ratio of 39.03 and a beta of 0.87. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. Clean Harbors has a 12-month low of $201.34 and a 12-month high of $316.98.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. On average, research analysts expect that Clean Harbors will post 8.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, CEO Eric W. Gerstenberg sold 1,000 shares of the company's 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 4,683 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $293.39, for a total transaction of $1,373,945.37. Following the transaction, the executive vice president owned 48,728 shares in the company, valued at approximately $14,296,307.92. The trade was a 8.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 7,308 shares of company stock valued at $2,133,467. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of Clean Harbors

A number of hedge funds have recently modified their holdings of CLH. Norges Bank acquired a new stake in shares of Clean Harbors in the 4th quarter valued at approximately $152,195,000. Durable Capital Partners LP acquired a new stake in shares of Clean Harbors in the 3rd quarter valued at approximately $133,217,000. Nordea Investment Management AB raised its position in shares of Clean Harbors by 120.8% in the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider's stock valued at $246,725,000 after acquiring an additional 569,388 shares during the period. Two Sigma Investments LP raised its position in shares of Clean Harbors by 148.3% in the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider's stock valued at $89,287,000 after acquiring an additional 229,666 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Clean Harbors by 10.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock valued at $557,146,000 after acquiring an additional 215,659 shares during the period. 90.43% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.