Clean Harbors (NYSE:CLH) Shares Break Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Clean Harbors shares crossed above their 200-day moving average, reaching $322.25 and last trading near $319.39 versus the $303.53 long-term average.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $355.29; several firms recently raised targets to $377–$390.
• The company beat quarterly expectations, reporting $3.22 in earnings per share versus a $2.81 consensus estimate and $1.74 billion in revenue, up 11.9% year over year. However, insiders—including the CEO—recently sold shares.

Clean Harbors, Inc. (NYSE:CLH - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $303.53 and traded as high as $322.25. Clean Harbors shares last traded at $319.3920, with a volume of 358,326 shares traded.

Wall Street Analyst Weigh In

CLH has been the subject of several research analyst reports. Weiss Ratings raised Clean Harbors from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 24th. Needham & Company LLC upped their target price on Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Bank of America set a $377.00 target price on Clean Harbors and gave the company a "buy" rating in a research report on Thursday, July 30th. TD Cowen raised their target price on Clean Harbors from $335.00 to $380.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $350.00 target price on shares of Clean Harbors in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $355.29.

Clean Harbors Price Performance

The company has a debt-to-equity ratio of 0.94, a current ratio of 2.13 and a quick ratio of 1.80. The firm has a market capitalization of $16.86 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 2.01 and a beta of 0.87. The business's fifty day simple moving average is $315.96 and its 200 day simple moving average is $303.53.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 earnings per share. On average, research analysts forecast that Clean Harbors, Inc. will post 9.91 EPS for the current year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $314.01, for a total value of $247,753.89. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $321.34, for a total value of $803,350.00. Following the completion of the transaction, the chief executive officer owned 56,793 shares in the company, valued at approximately $18,249,862.62. The trade was a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds and other institutional investors have recently modified their holdings of CLH. BlackRock Inc. bought a new stake in shares of Clean Harbors during the second quarter worth about $1,516,521,000. Jupiter Topco LLC bought a new position in Clean Harbors in the 2nd quarter valued at about $477,570,000. Bank of America Corp DE bought a new position in Clean Harbors in the 2nd quarter valued at about $142,801,000. William Blair Investment Management LLC acquired a new position in Clean Harbors during the 2nd quarter valued at about $125,239,000. Finally, Bank of New York Mellon Corp acquired a new position in Clean Harbors during the 2nd quarter valued at about $105,962,000. Institutional investors own 90.43% of the company's stock.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, industrial, and waste management services to commercial, industrial, government, and other customers. The company manages hazardous and non-hazardous waste through collection, transportation, treatment, recycling, and disposal services. It also provides emergency response services for chemical spills, environmental incidents, and other hazardous-material events.

Clean Harbors offers industrial maintenance and specialty services, including industrial cleaning, facility maintenance, chemical cleaning, waste handling, and turnaround support for refineries, manufacturing facilities, utilities, and other industrial operations.

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