Clean Harbors (NYSE:CLH) Given New $240.00 Price Target at UBS Group

Key Points

• UBS Group has raised its price target for Clean Harbors (NYSE:CLH) from $220.00 to $240.00, indicating a potential upside of 2.73% from the current stock price, while maintaining a "neutral" rating.
• Multiple analysts have varying outlooks on Clean Harbors with consensus ratings, including a "buy" rating from Truist Financial and an "outperform" rating from BMO Capital Markets, resulting in an average price target of $263.20.
• Clean Harbors reported a quarterly EPS of $2.36, slightly beating the consensus estimate, although revenue declined by 0.2% compared to the previous year.

Clean Harbors (NYSE:CLH - Free Report) had its target price hoisted by UBS Group from $220.00 to $240.00 in a report issued on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the business services provider's stock.

Other equities research analysts have also issued research reports about the company. Wall Street Zen upgraded Clean Harbors from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Needham & Company LLC decreased their price target on Clean Harbors from $268.00 to $255.00 and set a "buy" rating for the company in a report on Thursday, May 1st. BMO Capital Markets set a $268.00 price objective on shares of Clean Harbors and gave the company an "outperform" rating in a research report on Thursday. Raymond James Financial reduced their target price on shares of 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. Finally, Robert W. Baird raised their price target on shares of Clean Harbors from $250.00 to $255.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $263.40.

Clean Harbors Trading Down 0.7%

CLH traded down $1.66 during trading on Thursday, hitting $234.15. 503,299 shares of the company's stock were exchanged, compared to its average volume of 379,799. Clean Harbors has a 1 year low of $178.29 and a 1 year high of $267.11. The stock has a 50 day moving average price of $229.36 and a 200 day moving average price of $220.12. The firm has a market cap of $12.56 billion, a P/E ratio of 32.89 and a beta of 1.18. The company has a current ratio of 2.45, a quick ratio of 1.98 and a debt-to-equity ratio of 1.02.

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

Insiders Place Their Bets

In other news, Director Alison A. Quirk sold 893 shares of Clean Harbors stock in a transaction that occurred on Thursday, June 5th. The stock was 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 approximately $666,148.82. This trade represents a 23.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Speights sold 1,022 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $228.49, for a total value of $233,516.78. Following the sale, the insider directly owned 16,310 shares in the company, valued at approximately $3,726,671.90. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,112 shares of company stock worth $3,416,406. Company insiders own 5.60% of the company's stock.

Institutional Trading of Clean Harbors

Several institutional investors have recently added to or reduced their stakes in CLH. Wellington Management Group LLP boosted its holdings in shares of Clean Harbors by 30.9% in the 1st 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 stake in 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 acquiring an additional 504,290 shares during the period. William Blair Investment Management LLC bought a new position in shares of Clean Harbors during the second quarter valued at approximately $95,115,000. Millennium Management LLC raised 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 purchasing an additional 363,892 shares during the period. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Clean Harbors in the 2nd quarter worth approximately $59,085,000. Institutional investors 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.