Clean Harbors, Inc. (NYSE:CLH) Short Interest Up 7.7% in June

Clean Harbors, Inc. (NYSE:CLH) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 566,700 shares, a growth of 7.7% from the May 31st total of 526,300 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 291,500 shares, the days-to-cover ratio is currently 1.9 days.

Insider Activity at Clean Harbors

In related news, insider Alan S. Mckim sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $215.51, for a total transaction of $10,775,500.00. Following the transaction, the insider now owns 2,494,211 shares in the company, valued at $537,527,412.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Alan S. Mckim sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $215.51, for a total transaction of $10,775,500.00. Following the completion of the sale, the insider now directly owns 2,494,211 shares in the company, valued at $537,527,412.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lauren States sold 1,148 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $218.14, for a total transaction of $250,424.72. Following the sale, the director now owns 13,767 shares of the company’s stock, valued at $3,003,133.38. The disclosure for this sale can be found here. Insiders have sold 57,348 shares of company stock worth $12,320,113 over the last quarter. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. bought a new position in Clean Harbors in the 4th quarter worth $25,000. Rise Advisors LLC bought a new position in Clean Harbors in the 1st quarter worth $27,000. National Bank of Canada FI bought a new position in Clean Harbors in the 4th quarter worth $34,000. GAMMA Investing LLC raised its holdings in Clean Harbors by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 173 shares of the business services provider’s stock worth $35,000 after acquiring an additional 56 shares during the period. Finally, Blue Trust Inc. raised its holdings in Clean Harbors by 52.4% in the 4th quarter. Blue Trust Inc. now owns 218 shares of the business services provider’s stock worth $36,000 after acquiring an additional 75 shares during the period. Institutional investors own 90.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CLH shares. Stifel Nicolaus restated a “buy” rating and set a $220.00 target price on shares of Clean Harbors in a report on Monday, April 22nd. Truist Financial raised their price objective on shares of Clean Harbors from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Robert W. Baird raised their price objective on shares of Clean Harbors from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, Raymond James raised their price objective on shares of Clean Harbors from $225.00 to $235.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $216.40.

Clean Harbors Stock Down 0.5 %

CLH stock traded down $1.00 during midday trading on Tuesday, reaching $219.63. The company had a trading volume of 510,250 shares, compared to its average volume of 319,336. The company has a market capitalization of $11.85 billion, a P/E ratio of 31.93 and a beta of 1.21. The company has a 50 day moving average of $214.50 and a two-hundred day moving average of $193.72. The company has a current ratio of 2.07, a quick ratio of 1.72 and a debt-to-equity ratio of 1.20. Clean Harbors has a 1 year low of $132.92 and a 1 year high of $231.15.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.34 billion. Clean Harbors had a net margin of 6.85% and a return on equity of 16.97%. Clean Harbors’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. On average, equities research analysts expect that Clean Harbors will post 7.47 earnings per share for the current fiscal year.

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.