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

Key Points

• Weiss Ratings has reiterated a "Buy (B-)" rating for Clean Harbors (NYSE:CLH), highlighting confidence in the company's stock.
• Analysts' target prices for Clean Harbors range from $240.00 to $280.00, with a consensus target price of $262.91.
• The company's recent quarterly earnings exceeded analysts' expectations, reporting $2.36 earnings per share against a consensus estimate of $2.33.

Clean Harbors (NYSE:CLH - Get Free Report)'s stock had its "buy (b-)" rating reissued by research analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

A number of other analysts also recently commented on the company. UBS Group boosted their target price on Clean Harbors from $240.00 to $245.00 and gave the stock a "neutral" rating in a research report on Thursday, October 16th. BMO Capital Markets set a $268.00 target price on Clean Harbors and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial reiterated a "strong-buy" rating and set a $280.00 target price on shares of Clean Harbors in a research report on Monday, October 6th. Barclays started coverage on Clean Harbors in a research report on Friday, September 19th. They set an "equal weight" rating and a $253.00 target price on the stock. Finally, Oppenheimer boosted their target price on Clean Harbors from $254.00 to $256.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.91.

Clean Harbors Price Performance

Shares of Clean Harbors stock traded up $1.91 during trading on Friday, reaching $245.50. The company's stock had a trading volume of 534,365 shares, compared to its average volume of 508,320. 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 has a 12-month low of $178.29 and a 12-month high of $267.11. The company has a market capitalization of $13.17 billion, a P/E ratio of 34.48 and a beta of 1.18. The business has a 50 day moving average price of $237.54 and a 200-day moving average price of $229.74.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results 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 return on equity of 14.82% and a net margin of 6.48%.The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company's revenue for the quarter was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clean Harbors will post 7.89 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Clean Harbors

Institutional investors have recently added to or reduced their stakes in the business. Hopwood Financial Services Inc. acquired a new position in Clean Harbors in the first quarter valued at $30,000. Golden State Wealth Management LLC increased its stake in Clean Harbors by 145.3% in the second quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider's stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Clean Harbors in the third quarter valued at $44,000. Ameritas Advisory Services LLC acquired a new position in Clean Harbors in the second quarter valued at $48,000. Finally, SJS Investment Consulting Inc. increased its stake in Clean Harbors by 2,985.7% in the third quarter. SJS Investment Consulting Inc. now owns 216 shares of the business services provider's stock valued at $50,000 after purchasing an additional 209 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.

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.

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