UBS Group Forecasts Strong Price Appreciation for Clean Harbors (NYSE:CLH) Stock

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 price target raised by UBS Group from $220.00 to $240.00 in a research report sent to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the business services provider's stock.

A number of other equities analysts have also commented on CLH. Raymond James Financial cut their price target on shares of Clean Harbors from $280.00 to $278.00 and set a "strong-buy" rating on the stock in a report on Tuesday, July 22nd. Robert W. Baird boosted their target price 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. BMO Capital Markets set a $268.00 target price on shares of Clean Harbors and gave the company an "outperform" rating in a report on Thursday. Wall Street Zen upgraded shares of Clean Harbors from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Finally, Truist Financial dropped their target price on shares of Clean Harbors from $270.00 to $250.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Clean Harbors presently has an average rating of "Moderate Buy" and an average price target of $263.40.

Clean Harbors Price Performance

NYSE:CLH traded up $2.04 during mid-day trading on Thursday, reaching $236.21. The stock had a trading volume of 442,595 shares, compared to its average volume of 425,329. The stock has a 50-day simple moving average of $229.36 and a two-hundred day simple moving average of $219.98. The stock has a market capitalization of $12.67 billion, a PE ratio of 33.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.45 and a quick ratio of 2.07. Clean Harbors has a 12 month low of $178.29 and a 12 month high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.59 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The firm's quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, equities analysts anticipate that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Alison A. Quirk sold 893 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $223.69, for a total value of $199,755.17. Following the completion of the sale, the director directly owned 2,978 shares of the company's stock, valued at approximately $666,148.82. This represents a 23.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrea Robertson sold 836 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $233.64, for a total transaction of $195,323.04. Following the transaction, the director directly owned 9,888 shares of the company's stock, valued at $2,310,232.32. This represents a 7.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,948 shares of company stock valued at $3,611,729 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Clean Harbors

A number of institutional investors have recently modified their holdings of CLH. Hopwood Financial Services Inc. purchased a new stake in Clean Harbors in the 1st quarter worth approximately $30,000. Kapitalo Investimentos Ltda purchased a new stake in Clean Harbors in the 4th quarter worth approximately $32,000. Banque Cantonale Vaudoise bought a new position in shares of Clean Harbors in the 1st quarter worth $48,000. Quarry LP bought a new position in shares of Clean Harbors in the 1st quarter worth $48,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Clean Harbors during the 2nd quarter valued at $48,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

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.