Clean Harbors, Inc. (NYSE:CLH) Short Interest Update

Clean Harbors, Inc. (NYSE:CLH) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 905,338 shares, a drop of 14.3% from the February 26th total of 1,056,774 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 512,172 shares, the days-to-cover ratio is currently 1.8 days.

Insider Activity at Clean Harbors

In other Clean Harbors news, EVP Sharon M. Gabriel sold 3,540 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $282.07, for a total transaction of $998,527.80. Following the sale, the executive vice president owned 23,193 shares of the company’s stock, valued at approximately $6,542,049.51. This trade represents a 13.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total value of $293,000.00. Following the sale, the chief executive officer owned 38,877 shares of the company’s stock, valued at $11,390,961. This trade represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,597 shares of company stock worth $3,895,286 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

A number of hedge funds have recently modified their holdings of the business. Elyxium Wealth LLC purchased a new position in Clean Harbors in the fourth quarter valued at $26,000. Quattro Advisors LLC acquired a new stake in Clean Harbors in the 4th quarter valued at about $26,000. MidFirst Bank purchased a new position in shares of Clean Harbors in the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust grew its position in shares of Clean Harbors by 205.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Clean Harbors during the third quarter worth approximately $30,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLH has been the subject of a number of research analyst reports. Needham & Company LLC raised their price objective on Clean Harbors from $290.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. CJS Securities raised shares of Clean Harbors to a “strong-buy” rating in a report on Thursday, December 11th. UBS Group boosted their target price on shares of Clean Harbors from $240.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Robert W. Baird set a $300.00 price target on Clean Harbors in a research report on Thursday, February 19th. Finally, BMO Capital Markets lifted their price objective on Clean Harbors from $290.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

Clean Harbors Price Performance

Shares of Clean Harbors stock traded up $5.92 during mid-day trading on Tuesday, reaching $285.68. 244,556 shares of the stock traded hands, compared to its average volume of 510,123. The stock has a market capitalization of $15.12 billion, a PE ratio of 39.21 and a beta of 0.92. The business has a 50-day moving average of $277.17 and a 200 day moving average of $248.41. Clean Harbors has a fifty-two week low of $178.29 and a fifty-two week high of $298.12. The company has a quick ratio of 2.00, a current ratio of 2.33 and a debt-to-equity ratio of 1.01.

Clean Harbors (NYSE:CLH) last issued its earnings results on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. On average, analysts predict that Clean Harbors will post 7.89 EPS for the current year.

About Clean Harbors

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.