Wells Fargo & Company Forecasts Strong Price Appreciation for Clean Harbors (NYSE:CLH) Stock

Key Points

• Wells Fargo raised Clean Harbors’ price target to $349 from $313, implying 10.61% upside, while maintaining an “equal weight” rating.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and average price target of $354.57; several firms recently increased their targets following strong results.
• Clean Harbors exceeded quarterly expectations with EPS of $3.22 and revenue of $1.74 billion, up 11.9% year over year, though its elevated valuation—with a P/E near 39—presents potential risk.

Clean Harbors (NYSE:CLH - Get Free Report) had its target price lifted by stock analysts at Wells Fargo & Company from $313.00 to $349.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the business services provider's stock. Wells Fargo & Company's price objective points to a potential upside of 10.61% from the stock's previous close.

CLH has been the topic of several other reports. Needham & Company LLC upped their price target on Clean Harbors from $325.00 to $390.00 and gave the company a "buy" rating in a research report on Thursday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $375.00 price objective on shares of Clean Harbors in a report on Thursday. Wall Street Zen lowered shares of Clean Harbors from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. BMO Capital Markets increased their target price on shares of Clean Harbors from $340.00 to $342.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Finally, Bank of America set a $377.00 price target on shares of Clean Harbors and gave the company a "buy" rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Clean Harbors presently has an average rating of "Moderate Buy" and a consensus price target of $354.57.

Clean Harbors Stock Down 0.5%

Clean Harbors stock traded down $1.64 during midday trading on Friday, hitting $315.51. The stock had a trading volume of 53,843 shares, compared to its average volume of 517,296. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.94. The stock has a market cap of $16.67 billion, a P/E ratio of 38.29, a P/E/G ratio of 2.35 and a beta of 0.86. Clean Harbors has a 12 month low of $201.34 and a 12 month high of $335.94. The business has a fifty day moving average price of $295.12 and a 200 day moving average price of $288.53.

Clean Harbors (NYSE:CLH - Get Free Report) last released its earnings results on Wednesday, July 29th. The business services provider reported $3.22 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.41. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.64 billion. Clean Harbors had a return on equity of 15.65% and a net margin of 7.03%.Clean Harbors's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.36 EPS. Research analysts predict that Clean Harbors will post 8.62 EPS for the current year.

Insider Activity

In related news, Director Lauren States sold 789 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the completion of the transaction, the director owned 11,359 shares in the company, valued at $3,250,832.21. The trade was a 6.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Clean Harbors

Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its holdings in shares of Clean Harbors by 10.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider's stock valued at $557,146,000 after acquiring an additional 215,659 shares during the period. State Street Corp lifted its position in Clean Harbors by 0.8% in the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider's stock valued at $351,958,000 after purchasing an additional 12,452 shares during the last quarter. Bessemer Group Inc. lifted its position in Clean Harbors by 1.8% in the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider's stock valued at $267,239,000 after purchasing an additional 16,747 shares during the last quarter. Geode Capital Management LLC boosted its stake in Clean Harbors by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider's stock valued at $215,247,000 after purchasing an additional 11,020 shares during the period. Finally, First Trust Advisors LP boosted its stake in Clean Harbors by 10.0% during the 1st quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider's stock valued at $223,202,000 after purchasing an additional 70,447 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

More Clean Harbors News

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Clean Harbors reported second-quarter EPS of $3.22, well above the $2.74–$2.81 analyst estimates and up from $2.36 a year earlier. Revenue rose 11.9% year over year to approximately $1.735 billion, also exceeding expectations. Why Clean Harbors is a Top Growth Stock for the Long-Term
• Positive Sentiment: The earnings beat and record revenue prompted multiple analysts to raise their price targets while maintaining Buy ratings. Targets increased to $376 at Citigroup, $364 at Stifel, $380 at TD Cowen and $365 at Truist, signaling continued confidence in Clean Harbors’ growth prospects. Clean Harbors Analysts Boost Their Forecasts
• Positive Sentiment: Analyst coverage remains favorable, with Clean Harbors receiving a consensus rating of Moderate Buy. The company’s year-over-year earnings and revenue growth continue to support its long-term growth-stock appeal. Clean Harbors Receives Moderate Buy Rating
• Neutral Sentiment: Despite the positive earnings momentum, Clean Harbors trades at a relatively rich valuation, including a forward-looking growth multiple and a price-to-earnings ratio near 39. That may encourage profit-taking after the recent rally.
• Negative Sentiment: GuruFocus characterized the shares as overvalued relative to its estimated intrinsic value, highlighting valuation risk even though its overall fundamental score remained strong. Clean Harbors Stock Valuation Analysis

Clean Harbors Company Profile

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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