BMO Capital Markets Reiterates $268.00 Price Target for Clean Harbors (NYSE:CLH)

Key Points

• BMO Capital Markets has raised the price target for Clean Harbors (NYSE:CLH) from $264.00 to $268.00, indicating a potential upside of 15.83% from the company's previous close.
• The stock currently boasts a consensus rating of "Moderate Buy" with a consensus target price of $259.50.
• Recent earnings report indicated Clean Harbors achieved $2.36 earnings per share, exceeding analyst estimates, though revenue showed a slight year-over-year decline.

BMO Capital Markets set a $268.00 price target on Clean Harbors (NYSE:CLH - Free Report) in a research note published on Thursday, Marketbeat.com reports. The brokerage currently has an outperform rating on the business services provider's stock.

A number of other brokerages have also issued reports on CLH. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Truist Financial dropped their price target on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group lowered their price target on Clean Harbors from $240.00 to $205.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Robert W. Baird raised their target price on shares of Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC cut their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Clean Harbors has an average rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Stock Down 0.7%

CLH traded down $1.66 on Thursday, hitting $234.15. The company had a trading volume of 503,299 shares, compared to its average volume of 379,799. The stock has a market capitalization of $12.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.18. The stock has a fifty day moving average price of $229.36 and a 200-day moving average price of $220.12. Clean Harbors has a 12-month low of $178.29 and a 12-month high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.98 and a current ratio of 2.45.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.33 by $0.03. The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. Clean Harbors's revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. Analysts predict that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alison A. Quirk sold 893 shares of Clean Harbors stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $223.69, for a total value of $199,755.17. Following the completion of the sale, the director owned 2,978 shares in the company, valued at approximately $666,148.82. This trade represents a 23.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian P. Weber sold 3,035 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $227.17, for a total value of $689,460.95. Following the transaction, the executive vice president owned 54,548 shares in the company, valued at $12,391,669.16. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,112 shares of company stock worth $3,416,406. Insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On Clean Harbors

Hedge funds have recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. acquired a new stake in Clean Harbors in the first quarter valued at $30,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Clean Harbors during the 4th quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new stake in Clean Harbors during the first quarter worth approximately $48,000. Quarry LP acquired a new position in Clean Harbors in the first quarter valued at approximately $48,000. Finally, Ameritas Advisory Services LLC acquired a new position in Clean Harbors in the second quarter valued at approximately $48,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.