Clean Harbors (NYSE:CLH) Price Target Raised to $280.00 at Truist Financial

Clean Harbors (NYSE:CLH) had its price target increased by analysts at Truist Financial from $260.00 to $280.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential upside of 19.55% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on CLH. Robert W. Baird reduced their target price on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday. Oppenheimer lifted their price target on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. StockNews.com upgraded Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group lifted their price target on Clean Harbors from $223.00 to $256.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $254.33.

Clean Harbors Stock Performance

Shares of NYSE CLH traded down $0.94 during mid-day trading on Thursday, hitting $234.21. The company had a trading volume of 375,640 shares, compared to its average volume of 292,232. The company has a market capitalization of $12.63 billion, a price-to-earnings ratio of 33.91 and a beta of 1.20. Clean Harbors has a 1 year low of $132.92 and a 1 year high of $267.11. The stock’s 50-day moving average price is $246.84 and its 200-day moving average price is $228.98. The company has a current ratio of 2.10, a quick ratio of 1.76 and a debt-to-equity ratio of 1.14.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Clean Harbors will post 7.65 earnings per share for the current year.

Insider Buying and Selling at Clean Harbors

In related news, Director Lauren States sold 309 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the transaction, the director now owns 13,458 shares of the company’s stock, valued at approximately $3,284,963.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the completion of the transaction, the chief executive officer now directly owns 77,136 shares in the company, valued at approximately $18,955,400.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren States sold 309 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $244.09, for a total value of $75,423.81. Following the sale, the director now owns 13,458 shares of the company’s stock, valued at approximately $3,284,963.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,617 shares of company stock worth $2,613,132. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLH. Janus Henderson Group PLC grew its stake in Clean Harbors by 5.2% during the first quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock worth $319,371,000 after buying an additional 78,848 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Clean Harbors by 30.6% in the second quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock valued at $239,361,000 after acquiring an additional 248,240 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Clean Harbors by 1.2% in the first quarter. Bessemer Group Inc. now owns 1,013,449 shares of the business services provider’s stock valued at $204,019,000 after acquiring an additional 12,411 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Clean Harbors by 12.6% in the third quarter. Handelsbanken Fonder AB now owns 570,826 shares of the business services provider’s stock valued at $137,974,000 after acquiring an additional 63,800 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Clean Harbors by 20.3% during the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after purchasing an additional 90,756 shares during the last quarter. 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.