Clean Harbors (NYSE:CLH) Share Price Breaks Above 200-Day Moving Average - Should You Sell?

Key Points

• Clean Harbors shares moved above their 200-day moving average, trading as high as $316.63 versus the $301.18 average, though the price remained near the 50-day average of $314.55.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $354.57; recent targets range from $325 to $390.
• The company exceeded quarterly expectations, reporting $3.22 in EPS and $1.74 billion in revenue, while revenue grew 11.9% year over year. However, the CEO and a director recently sold shares, and insiders own about 5% of the company.

Clean Harbors, Inc. (NYSE:CLH - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $301.18 and traded as high as $316.63. Clean Harbors shares last traded at $313.13, with a volume of 310,528 shares trading hands.

Analyst Ratings Changes

CLH has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Clean Harbors from $337.00 to $364.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Barclays raised their price target on shares of Clean Harbors from $305.00 to $325.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Truist Financial boosted their price target on shares of Clean Harbors from $350.00 to $365.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Needham & Company LLC upped their price objective on shares of Clean Harbors from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased their price objective on shares of Clean Harbors from $313.00 to $349.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $354.57.

Clean Harbors Price Performance

The business's 50 day moving average is $314.55 and its two-hundred day moving average is $301.18. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13. The firm has a market capitalization of $16.53 billion, a PE ratio of 38.00, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.36 earnings per share. Equities research analysts anticipate that Clean Harbors, Inc. will post 9.73 earnings per share for the current fiscal year.

Insider Transactions at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 2,500 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $321.34, for a total transaction of $803,350.00. Following the sale, the chief executive officer directly owned 56,793 shares in the company, valued at $18,249,862.62. This represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrea Robertson sold 789 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $314.01, for a total value of $247,753.89. Following the sale, the director owned 8,979 shares in the company, valued at approximately $2,819,495.79. This represents a 8.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Clean Harbors

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Clean Harbors in the second quarter worth $1,516,521,000. Jupiter Topco LLC bought a new stake in Clean Harbors during the second quarter valued at $477,570,000. Norges Bank bought a new stake in Clean Harbors during the fourth quarter valued at $152,195,000. Bank of America Corp DE purchased a new position in Clean Harbors during the second quarter worth about $142,801,000. Finally, William Blair Investment Management LLC purchased a new position in Clean Harbors during the second quarter worth about $125,239,000. Hedge funds and other institutional investors own 90.43% of the company's stock.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy and industrial services throughout the United States and Canada. The company manages hazardous and non-hazardous waste through services that include collection, transportation, treatment, disposal, recycling and incineration. It also provides emergency spill response, wastewater treatment and specialized environmental remediation.

Through its industrial services operations, Clean Harbors supports refineries, chemical plants, utilities, manufacturers and other industrial customers with maintenance, cleaning, turnaround and specialty services.

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.