Stifel Nicolaus Forecasts Strong Price Appreciation for Clean Harbors (NYSE:CLH) Stock

Clean Harbors (NYSE:CLH) had its price objective raised by stock analysts at Stifel Nicolaus from $270.00 to $290.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 16.20% from the stock’s current price.

Several other equities analysts have also weighed in on CLH. Needham & Company LLC reduced their target price on shares of Clean Harbors from $274.00 to $268.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen started coverage on shares of Clean Harbors in a report on Friday, December 6th. They issued a “buy” rating and a $325.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. StockNews.com lowered shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Truist Financial boosted their price objective on shares of Clean Harbors from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $271.00.

Clean Harbors Price Performance

Shares of NYSE:CLH opened at $249.56 on Wednesday. The company has a 50-day moving average price of $252.08 and a 200 day moving average price of $238.62. Clean Harbors has a 52 week low of $161.39 and a 52 week high of $267.11. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The company has a market cap of $13.45 billion, a P/E ratio of 32.29 and a beta of 1.22.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.12 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.03). The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. Research analysts predict that Clean Harbors will post 7.21 earnings per share for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the transaction, the chief executive officer now owns 77,136 shares in the company, valued at approximately $18,955,400.64. This represents a 11.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren States sold 308 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $260.74, for a total transaction of $80,307.92. Following the completion of the transaction, the director now owns 13,150 shares in the company, valued at approximately $3,428,731. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,447 shares of company stock valued at $4,576,829 in the last quarter. Insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC boosted its holdings in shares of Clean Harbors by 30.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock worth $239,361,000 after buying an additional 248,240 shares during the period. Lazard Freres Gestion S.A.S. bought a new stake in shares of Clean Harbors during the 2nd quarter worth $42,968,000. FMR LLC boosted its holdings in shares of Clean Harbors by 12.0% during the 3rd quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after buying an additional 187,140 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Clean Harbors by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,451,751 shares of the business services provider’s stock worth $834,323,000 after buying an additional 100,394 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Clean Harbors by 20.3% in the 2nd quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock valued at $121,505,000 after purchasing an additional 90,756 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.

Clean Harbors Company Profile

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.