Clean Harbors (NYSE:CLH) PT Set at $268.00 by BMO Capital Markets

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 report released on Thursday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the business services provider's stock.

Several other brokerages have also recently issued reports on CLH. Needham & Company LLC reduced their price objective on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird raised their price objective on Clean Harbors from $250.00 to $255.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Raymond James Financial reduced their price target on shares of Clean Harbors from $280.00 to $278.00 and set a "strong-buy" rating for the company in a report on Tuesday, July 22nd. Truist Financial reduced their price target on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Trading Up 0.9%

CLH traded up $2.04 on Thursday, reaching $236.21. 442,595 shares of the company's stock were exchanged, compared to its average volume of 425,329. The company's 50 day moving average is $229.36 and its 200-day moving average is $219.98. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 33.18 and a beta of 1.18. Clean Harbors has a twelve month low of $178.29 and a twelve month high of $267.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45.

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

Insider Activity

In related news, insider Robert Speights sold 1,022 shares of Clean Harbors stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $228.49, for a total transaction of $233,516.78. Following the transaction, the insider directly owned 16,310 shares of the company's stock, valued at $3,726,671.90. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Louis Battles bought 2,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $233.50 per share, for a total transaction of $467,000.00. Following the completion of the acquisition, the chief executive officer owned 82,911 shares of the company's stock, valued at $19,359,718.50. This trade represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 15,948 shares of company stock valued at $3,611,729 over the last quarter. Insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Clean Harbors

A number of institutional investors have recently bought and sold shares of CLH. Public Employees Retirement System of Ohio grew its stake in Clean Harbors by 0.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 15,726 shares of the business services provider's stock valued at $3,636,000 after acquiring an additional 48 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Clean Harbors by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,372 shares of the business services provider's stock valued at $2,044,000 after buying an additional 52 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Clean Harbors by 1.0% during the 4th quarter. Deutsche Bank AG now owns 5,793 shares of the business services provider's stock valued at $1,333,000 after buying an additional 56 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Clean Harbors by 25.8% during the 1st quarter. Blue Trust Inc. now owns 273 shares of the business services provider's stock valued at $54,000 after buying an additional 56 shares during the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of Clean Harbors by 0.4% during the 4th quarter. Scotia Capital Inc. now owns 14,262 shares of the business services provider's stock valued at $3,282,000 after buying an additional 59 shares during 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 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.