Clean Harbors (NYSE:CLH) Reaches New 12-Month High After Earnings Beat

Key Points

• Clean Harbors shares hit a new 52-week high after the company reported quarterly EPS of $3.22, exceeding estimates by $0.41, while revenue reached $1.74 billion versus the $1.64 billion consensus.
• Revenue increased 11.9% year over year, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $330.21.
• Institutional investors own 90.43% of the company, while an insider recently sold 789 shares; the stock trades at a P/E ratio of 44.43 with a market capitalization of $17.33 billion.

Shares of Clean Harbors, Inc. (NYSE:CLH - Get Free Report) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $335.94 and last traded at $327.4410, with a volume of 75833 shares trading hands. The stock had previously closed at $303.67.

The business services provider reported $3.22 EPS for the quarter, beating the consensus estimate of $2.81 by $0.41. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The company's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.36 earnings per share.

Analysts Set New Price Targets

Several research analysts have commented on CLH shares. The Goldman Sachs Group boosted their target price on Clean Harbors from $268.00 to $306.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 8th. Citigroup lifted their price target on shares of Clean Harbors from $346.00 to $349.00 and gave the company a "buy" rating in a report on Friday, July 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of Clean Harbors in a research note on Tuesday, July 7th. Oppenheimer raised their target price on shares of Clean Harbors from $310.00 to $316.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Clean Harbors from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Clean Harbors presently has an average rating of "Moderate Buy" and a consensus target price of $330.21.

Insider Activity at Clean Harbors

In related news, Director Lauren States sold 789 shares of Clean Harbors stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total value of $225,803.91. Following the transaction, the director directly owned 11,359 shares of the company's stock, valued at $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Several large investors have recently modified their holdings of the company. Quattro Advisors LLC acquired a new stake in Clean Harbors during the 4th quarter worth about $26,000. Elyxium Wealth LLC acquired a new position in Clean Harbors during the fourth quarter worth $26,000. Parkside Financial Bank & Trust raised its holdings in shares of Clean Harbors by 205.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider's stock worth $28,000 after acquiring an additional 80 shares during the last quarter. MidFirst Bank acquired a new position in Clean Harbors during the 4th quarter valued at about $28,000. Finally, Larson Financial Group LLC increased its holdings in Clean Harbors by 676.5% during the 4th quarter. Larson Financial Group LLC now owns 132 shares of the business services provider's stock worth $31,000 after purchasing an additional 115 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

Clean Harbors Price Performance

The stock has a market capitalization of $17.33 billion, a P/E ratio of 44.43 and a beta of 0.86. The business has a fifty day simple moving average of $293.69 and a 200 day simple moving average of $287.51. The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source