Clean Harbors (NYSE:CLH) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Clean Harbors, Inc. (NYSE:CLH) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $303.53 and traded as high as $322.25. Clean Harbors shares last traded at $319.3920, with a volume of 358,326 shares changing hands.

Analyst Ratings Changes

CLH has been the topic of a number of analyst reports. Citigroup boosted their price target on Clean Harbors from $349.00 to $376.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus raised their price objective on Clean Harbors from $337.00 to $364.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Oppenheimer reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Clean Harbors in a research report on Thursday, July 30th. TD Cowen lifted their price objective on Clean Harbors from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen raised Clean Harbors from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $356.00.

Clean Harbors Stock Performance

The business’s fifty day moving average price is $316.11 and its 200-day moving average price is $303.73. The stock has a market cap of $16.84 billion, a PE ratio of 38.71, a P/E/G ratio of 2.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.80 and a current ratio of 2.13.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.41. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Clean Harbors had a net margin of 7.03% and a return on equity of 15.65%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.36 earnings per share. As a group, equities research analysts forecast that Clean Harbors, Inc. will post 9.91 EPS for the current fiscal year.

Insider Activity at Clean Harbors

In other Clean Harbors news, Director Andrea Robertson sold 789 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $314.01, for a total transaction of $247,753.89. Following the completion of the sale, the director directly owned 8,979 shares in the company, valued at approximately $2,819,495.79. The trade was a 8.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 2,500 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $321.34, for a total value of $803,350.00. Following the transaction, the chief executive officer directly owned 56,793 shares in the company, valued at $18,249,862.62. The trade was a 4.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Clean Harbors

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Clean Harbors in the second quarter worth $1,516,521,000. Janus Henderson Group PLC lifted its stake in shares of Clean Harbors by 10.0% during 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 buying an additional 215,659 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Clean Harbors during the 2nd quarter valued at $477,570,000. Bessemer Group Inc. lifted its stake in shares of Clean Harbors by 1.8% during the 1st quarter. Bessemer Group Inc. now owns 932,027 shares of the business services provider’s stock valued at $267,239,000 after buying an additional 16,747 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Clean Harbors by 10.0% in the 1st 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. Institutional investors own 90.43% of the company’s stock.

Clean Harbors Company Profile

Clean Harbors, Inc provides environmental, industrial, and waste management services to commercial, industrial, government, and other customers. The company manages hazardous and non-hazardous waste through collection, transportation, treatment, recycling, and disposal services. It also provides emergency response services for chemical spills, environmental incidents, and other hazardous-material events.

Clean Harbors offers industrial maintenance and specialty services, including industrial cleaning, facility maintenance, chemical cleaning, waste handling, and turnaround support for refineries, manufacturing facilities, utilities, and other industrial operations.