Clean Harbors (NYSE:CLH) Reaches New 52-Week High – Should You Buy?

Clean Harbors, Inc. (NYSE:CLH)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $289.00 and last traded at $287.16, with a volume of 13593 shares changing hands. The stock had previously closed at $286.04.

Analyst Upgrades and Downgrades

CLH has been the subject of several recent research reports. TD Cowen reiterated a “buy” rating on shares of Clean Harbors in a research note on Thursday, February 19th. Oppenheimer lifted their price objective on shares of Clean Harbors from $283.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Needham & Company LLC increased their target price on Clean Harbors from $290.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Raymond James Financial reiterated a “strong-buy” rating and issued a $320.00 price target on shares of Clean Harbors in a research report on Monday. Finally, BMO Capital Markets raised their target price on Clean Harbors from $290.00 to $310.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.18.

Clean Harbors Trading Up 0.4%

The stock has a market cap of $15.54 billion, a PE ratio of 40.34 and a beta of 0.96. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm has a fifty day simple moving average of $260.22 and a two-hundred day simple moving average of $241.82.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.03. The company had revenue of $1.50 billion for 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%. Clean Harbors’s revenue for the quarter 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. As a group, equities analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other news, Director John R. Welch sold 750 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $273.07, for a total transaction of $204,802.50. Following the sale, the director owned 10,237 shares in the company, valued at approximately $2,795,417.59. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Eric W. Gerstenberg sold 601 shares of Clean Harbors stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total transaction of $144,780.90. Following the sale, the chief executive officer directly owned 50,454 shares of the company’s stock, valued at $12,154,368.60. This represents a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,679 shares of company stock worth $2,132,403 over the last quarter. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clean Harbors

Several institutional investors have recently modified their holdings of CLH. Allworth Financial LP lifted its holdings in shares of Clean Harbors by 22.8% in the 2nd quarter. Allworth Financial LP now owns 232 shares of the business services provider’s stock worth $54,000 after acquiring an additional 43 shares during the last quarter. MAI Capital Management lifted its stake in Clean Harbors by 6.1% in the second quarter. MAI Capital Management now owns 839 shares of the business services provider’s stock worth $194,000 after purchasing an additional 48 shares during the last quarter. HB Wealth Management LLC boosted its position in Clean Harbors by 5.2% during the third quarter. HB Wealth Management LLC now owns 990 shares of the business services provider’s stock valued at $230,000 after buying an additional 49 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Clean Harbors by 0.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,460 shares of the business services provider’s stock valued at $2,197,000 after buying an additional 49 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Clean Harbors by 5.4% in the fourth quarter. GAMMA Investing LLC now owns 1,034 shares of the business services provider’s stock worth $242,000 after buying an additional 53 shares during the period. 90.43% of the stock is currently owned by 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.