Truist Financial Boosts Clean Harbors (NYSE:CLH) Price Target to $325.00

Key Points

• Truist Financial raised its price target on Clean Harbors to $325 (from $310) and kept a "buy" rating, implying roughly an 8.35% upside from the prior close.
• Analysts overall are trending upward—Clean Harbors has a consensus rating of "Moderate Buy" with an average target of $314, while firms like Robert W. Baird and Needham have recently increased their targets (Baird to $350, Needham to $308).
• Clean Harbors recently beat quarterly expectations with $1.62 EPS vs. $1.59 expected and $1.50B revenue vs. $1.46B expected (revenue +4.8% YoY); the stock trades near $300 with a market cap of about $16B and a P/E of 41.2.

Clean Harbors (NYSE:CLH - Get Free Report) had its price objective raised by equities research analysts at Truist Financial from $310.00 to $325.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. Truist Financial's price objective would indicate a potential upside of 8.35% from the stock's previous close.

A number of other analysts have also recently commented on CLH. Robert W. Baird upped their price objective on shares of Clean Harbors from $300.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday. Needham & Company LLC raised their price objective on shares of Clean Harbors from $290.00 to $308.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Barclays increased their target price on Clean Harbors from $230.00 to $280.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Finally, BMO Capital Markets increased their target price on Clean Harbors from $290.00 to $310.00 and gave the stock an "outperform" rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $314.00.

Clean Harbors Price Performance

CLH opened at $299.96 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.33 and a debt-to-equity ratio of 1.01. Clean Harbors has a 12 month low of $201.34 and a 12 month high of $316.98. The company has a fifty day simple moving average of $287.78 and a 200 day simple moving average of $254.74. The stock has a market cap of $15.99 billion, a P/E ratio of 41.20 and a beta of 0.94.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the prior year, the company earned $1.55 EPS. The firm's quarterly revenue was up 4.8% on a year-over-year basis. On average, research analysts expect that Clean Harbors will post 7.89 EPS for the current year.

Insider Activity

In other Clean Harbors news, CFO Eric J. Dugas sold 2,788 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $281.31, for a total transaction of $784,292.28. Following the completion of the transaction, the chief financial officer owned 15,933 shares in the company, valued at approximately $4,482,112.23. This represents a 14.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sharon M. Gabriel sold 3,540 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $282.07, for a total value of $998,527.80. Following the transaction, the executive vice president owned 23,193 shares of the company's stock, valued at approximately $6,542,049.51. This trade represents a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 13,597 shares of company stock worth $3,895,286. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clean Harbors

Several hedge funds have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Clean Harbors by 4.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 386,540 shares of the business services provider's stock valued at $110,833,000 after acquiring an additional 15,665 shares in the last quarter. Diversified Trust Co bought a new position in shares of Clean Harbors in the 1st quarter valued at about $656,000. Corient Private Wealth LLC grew its holdings in shares of Clean Harbors by 152.9% in the 4th quarter. Corient Private Wealth LLC now owns 12,682 shares of the business services provider's stock valued at $2,975,000 after acquiring an additional 7,667 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Clean Harbors by 309.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the business services provider's stock valued at $96,000 after acquiring an additional 309 shares in the last quarter. Finally, MidFirst Bank bought a new position in shares of Clean Harbors in the 4th quarter valued at about $28,000. Institutional investors own 90.43% of the company's stock.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.

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