Clean Harbors (NYSE:CLH) Given New $256.00 Price Target at Oppenheimer

Key Points

• Oppenheimer has raised its price target for Clean Harbors (NYSE: CLH) from $254 to $256, indicating a potential upside of 9.27% from the current stock price.
• The consensus rating for Clean Harbors is currently a "Moderate Buy", with an average price target of $263.20, as reported by MarketBeat.
• Despite a slight year-over-year decline in revenue, Clean Harbors reported earnings of $2.36 EPS, exceeding analysts' expectations of $2.33.

Clean Harbors (NYSE:CLH - Free Report) had its target price boosted by Oppenheimer from $254.00 to $256.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the business services provider's stock.

A number of other analysts also recently commented on the company. Robert W. Baird upped their target price 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 target price on Clean Harbors from $280.00 to $278.00 and set a "strong-buy" rating for the company in a report on Tuesday, July 22nd. Wall Street Zen raised Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. UBS Group raised their target price on Clean Harbors from $220.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Truist Financial decreased their target price on Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Clean Harbors has a consensus rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Trading Up 0.9%

CLH stock traded up $2.04 during midday trading on Thursday, reaching $236.21. The company's stock had a trading volume of 442,595 shares, compared to its average volume of 425,329. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.07 and a current ratio of 2.45. The stock has a fifty day simple moving average of $229.36 and a two-hundred day simple moving average of $219.98. Clean Harbors has a 1 year low of $178.29 and a 1 year high of $267.11. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 33.18 and a beta of 1.18.

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

Insider Transactions at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 8,076 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $225.23, for a total transaction of $1,818,957.48. Following the transaction, the chief executive officer directly owned 51,619 shares in the company, valued at approximately $11,626,147.37. This represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Welch sold 1,250 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $228.51, for a total transaction of $285,637.50. Following the transaction, the director owned 11,402 shares in the company, valued at $2,605,471.02. The trade was a 9.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,948 shares of company stock valued at $3,611,729. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

Institutional investors and hedge funds have recently modified their holdings of the business. Hopwood Financial Services Inc. bought a new stake in shares of Clean Harbors during the first quarter worth approximately $30,000. Kapitalo Investimentos Ltda bought a new stake in Clean Harbors in the fourth quarter valued at approximately $32,000. Banque Cantonale Vaudoise bought a new stake in Clean Harbors in the first quarter valued at approximately $48,000. Quarry LP bought a new stake in Clean Harbors in the first quarter valued at approximately $48,000. Finally, Ameritas Advisory Services LLC bought a new stake in Clean Harbors in the second quarter valued at approximately $48,000. 90.43% of the stock is owned by institutional investors.

About Clean Harbors

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.