Needham & Company LLC Issues Positive Forecast for Clean Harbors (NYSE:CLH) Stock Price

Key Points

• Needham & Company LLC raised its target on Clean Harbors (NYSE:CLH) from $308 to $325 and maintained a "buy" rating, implying roughly an 11.96% upside; the consensus analyst price target sits at $315.55 with most analysts rating the stock a Buy or Hold.
• Shares fell 7.5% to $290.28 on heavy volume despite Clean Harbors reporting Q1 EPS of $1.19 (beating estimates) while revenue of $1.46 billion slightly missed consensus.
• Insiders sold about 13,597 shares in the last quarter (insiders own 5% of the company), while institutional investors hold 90.43% of the stock, including large stakes from Norges Bank, Durable Capital, Nordea, Two Sigma and Janus Henderson.

Clean Harbors (NYSE:CLH - Get Free Report) had its target price lifted by stock analysts at Needham & Company LLC from $308.00 to $325.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the business services provider's stock. Needham & Company LLC's price objective would suggest a potential upside of 11.96% from the company's current price.

A number of other research analysts also recently weighed in on CLH. Truist Financial raised their target price on shares of Clean Harbors from $310.00 to $325.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Oppenheimer raised 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. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. UBS Group raised their target price on shares of Clean Harbors from $240.00 to $300.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $320.00 target price on shares of Clean Harbors in a research report on Monday, February 23rd. Two 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. According to data from MarketBeat.com, Clean Harbors has an average rating of "Moderate Buy" and a consensus price target of $315.55.

Clean Harbors Stock Down 7.5%

Shares of CLH stock traded down $23.42 during trading hours on Wednesday, hitting $290.28. 2,124,849 shares of the company were exchanged, compared to its average volume of 508,468. The business has a 50 day moving average of $294.61 and a two-hundred day moving average of $260.07. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Clean Harbors has a 52 week low of $201.34 and a 52 week high of $316.98. The company has a market capitalization of $15.47 billion, a PE ratio of 39.87 and a beta of 0.92.

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

Insider Transactions at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 1,000 shares of the firm'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 completion of the sale, the chief executive officer owned 38,877 shares in the company, valued at approximately $11,390,961. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sharon M. Gabriel sold 3,540 shares of the firm's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the sale, the executive vice president 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,597 shares of company stock valued at $3,895,286. 5.00% of the stock is owned by company insiders.

Institutional Trading of Clean Harbors

A number of hedge funds have recently modified their holdings of CLH. Norges Bank acquired a new stake in shares of Clean Harbors during the 4th quarter worth about $152,195,000. Durable Capital Partners LP acquired a new stake in shares of Clean Harbors during the 3rd quarter worth about $133,217,000. Nordea Investment Management AB lifted its stake in shares of Clean Harbors by 120.8% during the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider's stock worth $246,725,000 after buying an additional 569,388 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Clean Harbors by 148.3% during the 3rd quarter. Two Sigma Investments LP now owns 384,494 shares of the business services provider's stock worth $89,287,000 after buying an additional 229,666 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Clean Harbors by 10.0% during the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock worth $557,146,000 after buying an additional 215,659 shares during the last quarter. Institutional investors and hedge funds own 90.43% of the company's stock.

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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