Clean Harbors (NYSE:CLH) Trading 5.5% Higher After Earnings Beat

Clean Harbors, Inc. (NYSE:CLH) shares rose 5.5% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $201.39 and last traded at $199.95. Approximately 63,764 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 316,937 shares. The stock had previously closed at $189.45.

The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.13. Clean Harbors had a net margin of 6.99% and a return on equity of 17.83%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $1.36 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Oppenheimer upped their price objective on Clean Harbors from $178.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Needham & Company LLC upped their price target on Clean Harbors from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. BMO Capital Markets lifted their price objective on shares of Clean Harbors from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Robert W. Baird boosted their price objective on shares of Clean Harbors from $192.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $207.90.

Insider Activity

In other news, Director John T. Preston sold 1,913 shares of Clean Harbors stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $188.36, for a total transaction of $360,332.68. Following the completion of the sale, the director now directly owns 4,767 shares in the company, valued at approximately $897,912.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Eric W. Gerstenberg sold 15,276 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $187.71, for a total value of $2,867,457.96. Following the sale, the chief executive officer now directly owns 67,374 shares in the company, valued at $12,646,773.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Preston sold 1,913 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $188.36, for a total transaction of $360,332.68. Following the transaction, the director now directly owns 4,767 shares of the company’s stock, valued at $897,912.12. The disclosure for this sale can be found here. Insiders sold 25,185 shares of company stock worth $4,819,554 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clean Harbors

Several hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp purchased a new stake in shares of Clean Harbors in the third quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in Clean Harbors in the third quarter valued at $25,000. Contravisory Investment Management Inc. purchased a new position in Clean Harbors during the fourth quarter worth about $25,000. Rise Advisors LLC acquired a new stake in Clean Harbors in the 1st quarter worth about $27,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Clean Harbors in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Clean Harbors Stock Performance

The company has a market cap of $11.06 billion, a price-to-earnings ratio of 28.97 and a beta of 1.24. The company has a current ratio of 1.98, a quick ratio of 1.66 and a debt-to-equity ratio of 1.02. The stock’s 50 day moving average price is $192.53 and its 200 day moving average price is $176.49.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.