Clean Harbors, Inc. (CLH) Price Target Cut to $62.00

Clean Harbors, Inc. (NYSE:CLH) had its price objective reduced by Oppenheimer Holdings, Inc. from $67.00 to $62.00 in a report published on Thursday, November 2nd. They currently have an outperform rating on the business services provider’s stock.

Several other research analysts also recently commented on CLH. Zacks Investment Research downgraded Clean Harbors from a hold rating to a sell rating in a research report on Wednesday, October 25th. Stifel Nicolaus reaffirmed a buy rating and issued a $67.00 price target on shares of Clean Harbors in a research report on Wednesday, July 19th. Needham & Company LLC reaffirmed a buy rating and issued a $66.00 price target on shares of Clean Harbors in a research report on Thursday, July 13th. Barclays PLC raised Clean Harbors from an underweight rating to an equal weight rating and set a $50.00 price target on the stock in a research report on Monday, August 7th. Finally, Canaccord Genuity restated a hold rating and set a $57.00 price objective on shares of Clean Harbors in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $61.00.

Shares of Clean Harbors (NYSE CLH) traded down $0.26 during mid-day trading on Thursday, hitting $53.08. The company had a trading volume of 393,600 shares, compared to its average volume of 318,033. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.19 and a quick ratio of 1.86. Clean Harbors has a 1-year low of $48.63 and a 1-year high of $61.62. The company has a market cap of $3,036.83, a P/E ratio of 266.70 and a beta of 1.04.

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Clean Harbors announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 1st that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other Clean Harbors news, EVP Brian P. Weber sold 490 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $56.18, for a total value of $27,528.20. Following the transaction, the executive vice president now owns 59,413 shares of the company’s stock, valued at $3,337,822.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Eric W. Gerstenberg sold 4,667 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $50.42, for a total value of $235,310.14. Following the completion of the transaction, the chief operating officer now directly owns 91,950 shares in the company, valued at approximately $4,636,119. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,187 shares of company stock worth $373,083. 8.90% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in CLH. UBS Asset Management Americas Inc. raised its position in shares of Clean Harbors by 13.7% during the first quarter. UBS Asset Management Americas Inc. now owns 47,167 shares of the business services provider’s stock worth $2,623,000 after acquiring an additional 5,671 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Clean Harbors by 6.1% during the first quarter. Prudential Financial Inc. now owns 32,431 shares of the business services provider’s stock worth $1,804,000 after acquiring an additional 1,878 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of Clean Harbors by 17.4% during the first quarter. OppenheimerFunds Inc. now owns 11,987 shares of the business services provider’s stock worth $667,000 after acquiring an additional 1,779 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Clean Harbors by 9.1% during the first quarter. Teachers Advisors LLC now owns 59,926 shares of the business services provider’s stock worth $3,333,000 after acquiring an additional 4,982 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Clean Harbors by 30.2% during the first quarter. Legal & General Group Plc now owns 58,004 shares of the business services provider’s stock worth $3,225,000 after acquiring an additional 13,441 shares during the last quarter. Institutional investors own 93.98% of the company’s stock.

About Clean Harbors

Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.

Analyst Recommendations for Clean Harbors (NYSE:CLH)

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