Weiss Ratings Reaffirms Buy (B-) Rating for Clean Harbors (NYSE:CLH)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Clean Harbors (NYSE: CLH), indicating positive sentiment towards the company's stock.
• Analysts have raised price targets for Clean Harbors, with estimates ranging from $240.00 to $280.00, reflecting varying levels of confidence among different institutions.
• Clean Harbors reported $2.36 EPS for the last quarter, surpassing analyst expectations, although its revenue decreased by 0.2% year-over-year.

Clean Harbors (NYSE:CLH - Get Free Report)'s stock had its "buy (b-)" rating restated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the stock. UBS Group boosted their price target on shares of Clean Harbors from $220.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Oppenheimer boosted their price target on shares of Clean Harbors from $254.00 to $256.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays initiated coverage on shares of Clean Harbors in a report on Friday, September 19th. They issued an "equal weight" rating and a $253.00 price target for the company. BMO Capital Markets set a $268.00 price target on shares of Clean Harbors and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $280.00 price objective on shares of Clean Harbors in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $262.45.

Clean Harbors Trading Up 1.4%

CLH traded up $3.36 on Wednesday, reaching $235.36. 358,825 shares of the company traded hands, compared to its average volume of 390,471. Clean Harbors has a one year low of $178.29 and a one year high of $267.11. The firm has a fifty day simple moving average of $238.47 and a two-hundred day simple moving average of $226.37. The company has a market cap of $12.62 billion, a P/E ratio of 33.06 and a beta of 1.18. The company has a quick ratio of 2.07, a current ratio of 2.45 and a debt-to-equity ratio of 1.02.

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 for the quarter, beating analysts' consensus estimates of $2.33 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.82%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $2.46 EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, equities research analysts expect that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Transactions at Clean Harbors

In related news, Director Andrea Robertson sold 836 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $233.64, for a total value of $195,323.04. Following the completion of the sale, the director owned 9,888 shares of the company's stock, valued at approximately $2,310,232.32. This represents a 7.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Louis Battles acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $233.50 per share, with a total value of $467,000.00. Following the acquisition, the chief executive officer directly owned 82,911 shares of the company's stock, valued at $19,359,718.50. This trade represents a 2.47% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CLH. UMB Bank n.a. boosted its stake in Clean Harbors by 24.6% during the first quarter. UMB Bank n.a. now owns 349 shares of the business services provider's stock worth $69,000 after buying an additional 69 shares during the period. Simplicity Wealth LLC boosted its stake in shares of Clean Harbors by 11.4% in the first quarter. Simplicity Wealth LLC now owns 3,045 shares of the business services provider's stock valued at $600,000 after purchasing an additional 312 shares during the period. SG Americas Securities LLC boosted its stake in shares of Clean Harbors by 105.8% in the first quarter. SG Americas Securities LLC now owns 25,026 shares of the business services provider's stock valued at $4,933,000 after purchasing an additional 12,863 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Clean Harbors by 309.0% in the first quarter. Assenagon Asset Management S.A. now owns 143,977 shares of the business services provider's stock valued at $28,378,000 after purchasing an additional 108,779 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Clean Harbors by 16.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 109,425 shares of the business services provider's stock valued at $21,568,000 after purchasing an additional 15,620 shares during the period. Hedge funds and other institutional investors own 90.43% of the company's stock.

Clean Harbors Company Profile

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.

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