UBS AG upgraded shares of Clean Harbors, Inc. (NYSE:CLH) from an underperform rating to a market perform rating in a report released on Thursday, November 2nd, The Fly reports.
A number of other equities analysts have also recently commented on CLH. Needham & Company LLC reaffirmed a buy rating and issued a $66.00 price target on shares of Clean Harbors in a research note on Thursday, July 13th. Stifel Nicolaus restated a buy rating and set a $67.00 price target on shares of Clean Harbors in a research report on Wednesday, July 19th. BidaskClub lowered Clean Harbors from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Barclays PLC upgraded 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 reissued a hold rating and issued a $57.00 target price on shares of Clean Harbors in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $61.00.
Shares of Clean Harbors (NYSE:CLH) traded down $0.26 during midday 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 current ratio of 2.19, a quick ratio of 1.86 and a debt-to-equity ratio of 1.44. The stock has a market cap of $3,036.83, a PE ratio of 266.70 and a beta of 1.04. Clean Harbors has a 52 week low of $48.63 and a 52 week high of $61.62.
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Clean Harbors announced that its board has approved a share repurchase plan on Wednesday, November 1st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, EVP Brian P. Weber sold 490 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $56.18, for a total transaction of $27,528.20. Following the completion of the transaction, the executive vice president now directly owns 59,413 shares of the company’s stock, valued at $3,337,822.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Eric W. Gerstenberg sold 4,667 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $50.42, for a total value of $235,310.14. Following the transaction, the chief operating officer now directly owns 91,950 shares of the company’s stock, valued at $4,636,119. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,187 shares of company stock valued at $373,083. 8.90% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Clean Harbors by 11,874.0% in the 1st quarter. BlackRock Inc. now owns 4,345,138 shares of the business services provider’s stock valued at $241,676,000 after purchasing an additional 4,308,850 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Clean Harbors by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,116,699 shares of the business services provider’s stock valued at $229,836,000 after purchasing an additional 68,590 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Clean Harbors by 0.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,260,372 shares of the business services provider’s stock worth $128,163,000 after buying an additional 14,789 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Clean Harbors by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,903,264 shares of the business services provider’s stock worth $107,915,000 after buying an additional 15,654 shares during the period. Finally, State Street Corp raised its holdings in shares of Clean Harbors by 1.6% in the second quarter. State Street Corp now owns 1,373,858 shares of the business services provider’s stock worth $76,701,000 after buying an additional 21,037 shares during the period. 93.98% of the stock is owned by institutional investors and hedge funds.
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.
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