Clean Harbors (NYSE:CLH) Rating Lowered to Hold at Wall Street Zen

Key Points

• Clean Harbors was downgraded by Wall Street Zen from buy to hold, even though the broader analyst view remains constructive with a Moderate Buy consensus and an average price target of $318.83.
• The stock was up 3.2% and opened at $291.44, after the company reported Q1 earnings of $1.19 per share, beating estimates, while revenue came in slightly below expectations at $1.46 billion.
• Clean Harbors also raised full-year guidance on margin strength, and several analysts lifted price targets after the results, suggesting optimism about future profitability despite the downgrade.

Clean Harbors (NYSE:CLH - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of Clean Harbors from $240.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. TD Cowen upped their price objective on shares of Clean Harbors from $320.00 to $335.00 and gave the stock a "buy" rating in a report on Thursday. Oppenheimer upped their price objective on shares of Clean Harbors from $310.00 to $316.00 and gave the stock an "outperform" rating in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Clean Harbors from $268.00 to $306.00 and gave the stock a "neutral" rating in a report on Wednesday, April 8th. Finally, Truist Financial upped their price objective on shares of Clean Harbors from $310.00 to $325.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $318.83.

Clean Harbors Trading Up 3.2%

NYSE CLH opened at $291.44 on Friday. Clean Harbors has a 1-year low of $201.34 and a 1-year high of $316.98. The company has a current ratio of 2.34, a quick ratio of 2.00 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $15.40 billion, a PE ratio of 39.49 and a beta of 0.92. The firm's fifty day simple moving average is $294.75 and its 200-day simple moving average is $260.80.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates 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%. Clean Harbors's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Clean Harbors will post 8.26 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other Clean Harbors news, EVP Sharon M. Gabriel sold 3,540 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $282.07, for a total transaction of $998,527.80. Following the completion of the sale, the executive vice president directly owned 23,193 shares in the company, valued at $6,542,049.51. This represents a 13.24% 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 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 sale, the chief executive officer owned 38,877 shares of the company's stock, valued at $11,390,961. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,597 shares of company stock valued at $3,895,286. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Hedge funds have recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in Clean Harbors during the fourth quarter valued at about $26,000. Quattro Advisors LLC bought a new stake in Clean Harbors during the fourth quarter valued at about $26,000. MidFirst Bank bought a new stake in Clean Harbors during the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its holdings in Clean Harbors by 205.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock valued at $28,000 after acquiring an additional 80 shares during the period. Finally, Root Financial Partners LLC bought a new stake in Clean Harbors during the third quarter valued at about $30,000. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors News Roundup

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Clean Harbors raised its full-year guidance after reporting margin strength, signaling management sees better profitability ahead. Clean Harbors Lifts Guidance On Margin Strength
• Positive Sentiment: The company beat profit expectations in Q1 and raised its full-year outlook, which typically supports investor confidence in future earnings power. Clean Harbors beats profit view, raises full-year outlook
• Positive Sentiment: Several analysts turned more constructive after results, including Wells Fargo, Oppenheimer, and Needham, all of which lifted price targets and reinforced a bullish long-term view. Analysts Boost Their Forecasts On Clean Harbors After Q1 Results

About Clean Harbors

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.

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