Clean Harbors (NYSE:CLH) Rating Increased to Buy at Citigroup

Clean Harbors (NYSE:CLH) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday,Finviz reports. The brokerage currently has a $346.00 target price on the business services provider’s stock. Citigroup’s price target suggests a potential upside of 15.70% from the company’s previous close.

Several other research analysts have also commented on the stock. BMO Capital Markets raised their price target on shares of Clean Harbors from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Raymond James Financial restated a “strong-buy” rating and issued a $320.00 price target on shares of Clean Harbors in a report on Monday, February 23rd. Wells Fargo & Company raised their price target on shares of Clean Harbors from $291.00 to $309.00 and gave the company an “equal weight” rating in a report on Wednesday, March 18th. The Goldman Sachs Group increased their price objective on shares of Clean Harbors from $228.00 to $253.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Finally, Robert W. Baird set a $300.00 price objective on shares of Clean Harbors in a research report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Clean Harbors has a consensus rating of “Moderate Buy” and an average price target of $303.27.

Clean Harbors Trading Down 0.2%

NYSE CLH opened at $299.06 on Wednesday. Clean Harbors has a one year low of $179.47 and a one year high of $302.25. The company’s 50 day moving average price is $281.36 and its 200 day moving average price is $250.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 41.08 and a beta of 0.94.

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

Insider Buying and Selling

In related news, Director Marcy L. Reed sold 836 shares of Clean Harbors stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $287.94, for a total value of $240,717.84. Following the completion of the sale, the director owned 5,081 shares in the company, valued at approximately $1,463,023.14. The trade was a 14.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $293.00, for a total transaction of $293,000.00. Following the transaction, the chief executive officer directly owned 38,877 shares in the company, valued at $11,390,961. The trade was a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,597 shares of company stock valued at $3,895,286 over the last three months. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

Hedge funds have recently added to or reduced their stakes in the business. Candriam S.C.A. boosted its holdings in Clean Harbors by 36.4% in the third quarter. Candriam S.C.A. now owns 68,867 shares of the business services provider’s stock worth $15,992,000 after purchasing an additional 18,367 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Clean Harbors by 7.8% during the third quarter. JPMorgan Chase & Co. now owns 219,862 shares of the business services provider’s stock valued at $51,059,000 after purchasing an additional 15,872 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Clean Harbors by 120.8% during the fourth quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock valued at $246,725,000 after purchasing an additional 569,388 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Clean Harbors by 715.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 7,262 shares of the business services provider’s stock valued at $1,686,000 after purchasing an additional 6,371 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Clean Harbors by 8.6% in the third quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider’s stock worth $254,908,000 after acquiring an additional 87,322 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

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.