Clean Harbors (NYSE:CLH) Trading Down 9.6% - Here's Why

Key Points

• Shares fell 9.6% to $283.68 on Wednesday with trading of 118,819 shares, a 76% decline from average session volume after a prior close of $313.70.
• Analysts remain broadly positive, assigning a consensus rating of "Moderate Buy" and a consensus price target of $315.55 after multiple firms raised targets recently.
• The latest quarter delivered a slight EPS beat ($1.19 vs. $1.15) but a marginal revenue miss ($1.46B vs. $1.47B), while insiders sold roughly 13,597 shares (~$3.9M) in the past 90 days.

Clean Harbors, Inc. (NYSE:CLH - Get Free Report)'s share price fell 9.6% during trading on Wednesday . The stock traded as low as $283.62 and last traded at $283.6820. 118,819 shares were traded during trading, a decline of 76% from the average session volume of 488,499 shares. The stock had previously closed at $313.70.

Analyst Ratings Changes

Several brokerages have commented on CLH. 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. TD Cowen reiterated a "buy" rating on shares of Clean Harbors in a research report on Thursday, February 19th. BMO Capital Markets upped their target price on shares of Clean Harbors from $290.00 to $310.00 and gave the company an "outperform" rating in a research report on Wednesday, February 18th. Oppenheimer upped their target price on shares of Clean Harbors from $283.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, February 19th. Finally, Wells Fargo & Company upped their target price on shares of Clean Harbors from $291.00 to $309.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $315.55.

Clean Harbors Stock Performance

The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The stock's 50-day moving average is $294.61 and its 200 day moving average is $260.07. The firm has a market cap of $15.47 billion, a P/E ratio of 39.87 and a beta of 0.92.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.04. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts predict that Clean Harbors, Inc. will post 8.25 earnings per share for the current year.

Insider Transactions at Clean Harbors

In related news, EVP Sharon M. Gabriel sold 3,540 shares of the company's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $282.07, for a total value of $998,527.80. Following the completion of the transaction, the executive vice president directly owned 23,193 shares of the company's stock, valued at approximately $6,542,049.51. This represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marcy L. Reed sold 836 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total transaction of $240,717.84. Following the completion of the transaction, the director directly owned 5,081 shares of the company's stock, valued at approximately $1,463,023.14. The trade was a 14.13% 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 sold 13,597 shares of company stock worth $3,895,286. Company insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Clean Harbors

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quattro Advisors LLC acquired a new position in Clean Harbors in the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in Clean Harbors in the 4th quarter worth $26,000. Parkside Financial Bank & Trust boosted its stake in 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 purchasing an additional 80 shares during the period. MidFirst Bank acquired a new position in Clean Harbors in the 4th quarter worth $28,000. Finally, Root Financial Partners LLC acquired a new position in Clean Harbors in the 3rd quarter worth $30,000. 90.43% of the stock is 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.

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