Clean Harbors (NYSE:CLH) Reaches New 52-Week High – Time to Buy?

Clean Harbors, Inc. (NYSE:CLH) hit a new 52-week high during trading on Monday . The company traded as high as $260.00 and last traded at $259.92, with a volume of 3516 shares. The stock had previously closed at $258.55.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLH. StockNews.com downgraded shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 8th. Truist Financial lifted their price objective on Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Robert W. Baird upped their target price on Clean Harbors from $242.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Oppenheimer raised their price target on Clean Harbors from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC upped their price objective on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Clean Harbors currently has an average rating of “Buy” and a consensus target price of $242.40.

Clean Harbors Stock Up 0.7 %

The stock has a fifty day moving average price of $241.40 and a 200-day moving average price of $224.02. The firm has a market cap of $14.04 billion, a PE ratio of 37.42 and a beta of 1.20. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLH) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.25. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 earnings per share. Research analysts expect that Clean Harbors, Inc. will post 7.65 EPS for the current year.

Insiders Place Their Bets

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the 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 completion of the sale, the chief executive officer now owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lauren States sold 309 shares of Clean Harbors stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $244.09, for a total transaction of $75,423.81. Following the sale, the director now directly owns 13,458 shares of the company’s stock, valued at approximately $3,284,963.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 77,136 shares of the company’s stock, valued at $18,955,400.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clean Harbors

A number of institutional investors have recently made changes to their positions in CLH. Creative Planning raised its holdings in Clean Harbors by 10.8% in the third quarter. Creative Planning now owns 3,147 shares of the business services provider’s stock valued at $761,000 after acquiring an additional 308 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in shares of Clean Harbors by 3.5% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 11,465 shares of the business services provider’s stock valued at $2,771,000 after purchasing an additional 389 shares in the last quarter. Northcape Capital Pty Ltd bought a new position in shares of Clean Harbors during the third quarter worth about $2,324,000. UMB Bank n.a. grew its stake in Clean Harbors by 63.4% in the third quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock worth $52,000 after purchasing an additional 83 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC increased its holdings in Clean Harbors by 5.8% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 94,799 shares of the business services provider’s stock valued at $22,914,000 after buying an additional 5,203 shares during the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.

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.