Oppenheimer Issues Positive Forecast for Clean Harbors (NYSE:CLH) Stock Price

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 hoisted by Oppenheimer from $254.00 to $256.00 in a report issued on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider's stock.

Several other analysts have also recently commented on CLH. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Raymond James Financial decreased their price objective on Clean Harbors from $280.00 to $278.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, July 22nd. Truist Financial lowered their target price on Clean Harbors from $270.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the company an "outperform" rating in a research note on Thursday. Finally, Robert W. Baird increased their price target on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $263.40.

Clean Harbors Price Performance

Clean Harbors stock traded down $1.66 on Thursday, reaching $234.15. The company's stock had a trading volume of 503,299 shares, compared to its average volume of 379,799. The business's fifty day moving average price is $229.36 and its 200 day moving average price is $220.12. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.98 and a current ratio of 2.45. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 32.89 and a beta of 1.18. Clean Harbors has a twelve month low of $178.29 and a twelve month high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.03. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The firm's quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. Equities analysts expect that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other news, Director Alison A. Quirk sold 893 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $223.69, for a total value of $199,755.17. Following the completion of the transaction, the director owned 2,978 shares in the company, valued at $666,148.82. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer owned 51,619 shares of the company's stock, valued at $11,626,147.37. This trade represents a 13.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,112 shares of company stock worth $3,416,406 over the last three months. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLH. Wellington Management Group LLP boosted its holdings in shares of Clean Harbors by 30.9% in the first quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock valued at $1,043,407,000 after buying an additional 1,249,704 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Clean Harbors by 127.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 899,566 shares of the business services provider's stock valued at $177,304,000 after buying an additional 504,290 shares during the period. William Blair Investment Management LLC acquired a new position in shares of Clean Harbors in the second quarter valued at approximately $95,115,000. Millennium Management LLC boosted its holdings in Clean Harbors by 36,389.2% during the first quarter. Millennium Management LLC now owns 362,892 shares of the business services provider's stock worth $71,526,000 after purchasing an additional 363,892 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Clean Harbors during the second quarter worth $59,085,000. Institutional investors and hedge funds own 90.43% of the company's stock.

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.