Clean Harbors (NYSE:CLH) Now Covered by Bank of America

Bank of America began coverage on shares of Clean Harbors (NYSE:CLH) in a report released on Monday. The brokerage set a “buy” rating and a $360.00 price target on the business services provider’s stock. Bank of America‘s target price would suggest a potential upside of 18.36% from the company’s current price.

A number of other brokerages have also issued reports on CLH. The Goldman Sachs Group increased their price target on Clean Harbors from $268.00 to $306.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. UBS Group upped their price objective on Clean Harbors from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. BMO Capital Markets raised their target price on Clean Harbors from $340.00 to $342.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Stifel Nicolaus began coverage on Clean Harbors in a report on Friday, May 29th. They set a “buy” rating and a $337.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $330.21.

Clean Harbors Stock Performance

Shares of CLH opened at $304.14 on Monday. The firm has a market capitalization of $16.07 billion, a PE ratio of 41.21 and a beta of 0.86. The company has a quick ratio of 1.99, a current ratio of 2.34 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $293.45 and a 200 day moving average price of $286.68. Clean Harbors has a 52-week low of $201.34 and a 52-week high of $316.98.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $1.09 EPS. Clean Harbors’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts anticipate that Clean Harbors will post 8.59 earnings per share for the current fiscal year.

Insider Transactions at Clean Harbors

In other Clean Harbors news, Director Lauren States sold 789 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $286.19, for a total transaction of $225,803.91. Following the sale, the director owned 11,359 shares in the company, valued at approximately $3,250,832.21. The trade was a 6.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Clean Harbors by 10.0% in the 4th 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 in the last quarter. State Street Corp raised its stake in Clean Harbors by 0.8% during 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 period. Bessemer Group Inc. lifted its holdings in shares of Clean Harbors by 1.8% in the first 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Clean Harbors by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 917,779 shares of the business services provider’s stock worth $215,247,000 after buying an additional 11,020 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Clean Harbors by 10.0% in the first quarter. First Trust Advisors LP now owns 778,441 shares of the business services provider’s stock worth $223,202,000 after buying an additional 70,447 shares during the period. 90.43% of the stock is owned by hedge funds and other institutional investors.

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.