Clean Harbors (NYSE:CLH) Downgraded by StockNews.com to Hold

Clean Harbors (NYSE:CLH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities analysts have also issued reports about the stock. Oppenheimer lowered their price target on shares of Clean Harbors from $256.00 to $254.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. BMO Capital Markets lowered their target price on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and issued a $268.00 price target on shares of Clean Harbors in a research report on Thursday, February 20th. Robert W. Baird reduced their price objective on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Truist Financial dropped their target price on Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $270.56.

Clean Harbors Price Performance

Shares of NYSE CLH traded up $2.54 during midday trading on Tuesday, hitting $214.19. The stock had a trading volume of 617,330 shares, compared to its average volume of 449,337. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The stock has a 50 day simple moving average of $231.95 and a 200-day simple moving average of $241.92. The company has a market capitalization of $11.54 billion, a PE ratio of 28.87 and a beta of 1.24. Clean Harbors has a 1 year low of $180.37 and a 1 year high of $267.11.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm posted $1.82 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Clean Harbors will post 7.89 EPS for the current fiscal year.

Insider Activity

In other Clean Harbors news, EVP Brian P. Weber sold 861 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total value of $224,987.91. Following the transaction, the executive vice president now owns 59,346 shares of the company’s stock, valued at $15,507,703.26. This represents a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren States sold 308 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $245.06, for a total transaction of $75,478.48. Following the transaction, the director now directly owns 12,534 shares of the company’s stock, valued at approximately $3,071,582.04. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,785 shares of company stock valued at $444,558 in the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Trading of Clean Harbors

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armis Advisers LLC acquired a new stake in shares of Clean Harbors in the fourth quarter valued at $327,000. Putney Financial Group LLC acquired a new position in Clean Harbors during the 4th quarter worth about $511,000. Toronto Dominion Bank purchased a new position in Clean Harbors during the 4th quarter valued at about $3,295,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Clean Harbors by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 395,276 shares of the business services provider’s stock valued at $90,969,000 after acquiring an additional 3,284 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Clean Harbors during the fourth quarter worth about $543,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About Clean Harbors

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.