Raymond James Financial Has Lowered Expectations for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH - Free Report) had its price objective lowered by Raymond James Financial from $280.00 to $278.00 in a report published on Tuesday morning,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the business services provider's stock.

CLH has been the subject of several other research reports. 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 research report on Tuesday, April 22nd. Wall Street Zen raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. UBS Group reduced their price objective on Clean Harbors from $240.00 to $205.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Needham & Company LLC dropped their target price on Clean Harbors from $268.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Robert W. Baird lifted their price target on Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.70.

Clean Harbors Stock Performance

NYSE CLH traded up $1.05 on Tuesday, hitting $230.97. The stock had a trading volume of 265,486 shares, compared to its average volume of 353,321. Clean Harbors has a one year low of $178.29 and a one year high of $267.11. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 31.99 and a beta of 1.16. The company's 50-day moving average is $228.77 and its two-hundred day moving average is $220.04. The company has a quick ratio of 1.98, a current ratio of 2.37 and a debt-to-equity ratio of 1.08.

Clean Harbors (NYSE:CLH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.07. Clean Harbors had a net margin of 6.58% and a return on equity of 15.47%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the company earned $1.29 EPS. Clean Harbors's revenue was up 4.0% on a year-over-year basis. On average, analysts expect that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Transactions at Clean Harbors

In other news, CEO Eric W. Gerstenberg sold 8,076 shares of Clean Harbors stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $225.23, for a total value of $1,818,957.48. Following the completion of the transaction, the chief executive officer owned 51,619 shares in the company, valued at approximately $11,626,147.37. The trade was a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alison A. Quirk sold 893 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $223.69, for a total transaction of $199,755.17. Following the transaction, the director owned 2,978 shares in the company, valued at approximately $666,148.82. This trade represents a 23.07% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,112 shares of company stock valued at $3,416,406. Corporate insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Clean Harbors

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Clean Harbors by 30.9% during the 1st quarter. Wellington Management Group LLP now owns 5,293,796 shares of the business services provider's stock worth $1,043,407,000 after acquiring an additional 1,249,704 shares during the period. Pictet Asset Management Holding SA increased its holdings in Clean Harbors by 72.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider's stock valued at $381,602,000 after purchasing an additional 697,630 shares during the last quarter. Norges Bank acquired a new position in Clean Harbors in the fourth quarter valued at about $136,974,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Clean Harbors by 127.6% during 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 worth $177,304,000 after buying an additional 504,290 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Clean Harbors by 36,389.2% during the 1st quarter. Millennium Management LLC now owns 362,892 shares of the business services provider's stock worth $71,526,000 after buying an additional 363,892 shares during the period. 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.