Clean Harbors (NYSE:CLH) Earns “Buy” Rating from Needham & Company LLC

Clean Harbors (NYSE:CLH)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $268.00 target price on the business services provider’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 10.84% from the company’s current price.

CLH has been the topic of a number of other reports. Robert W. Baird lowered their target price on shares of Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Truist Financial increased their price target on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com cut shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. Oppenheimer increased their price target on shares of Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price target on shares of Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Clean Harbors has a consensus rating of “Buy” and an average target price of $269.44.

Clean Harbors Trading Up 1.1 %

Shares of CLH opened at $241.80 on Thursday. The firm’s 50 day simple moving average is $242.47 and its 200 day simple moving average is $241.01. The company has a market capitalization of $13.03 billion, a P/E ratio of 31.48 and a beta of 1.24. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.10 and a quick ratio of 1.76. Clean Harbors has a 1-year low of $163.72 and a 1-year high of $267.11.

Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 earnings per share. Sell-side analysts forecast that Clean Harbors will post 7.21 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 6,051 shares of Clean Harbors stock in a transaction on Friday, November 15th. The shares were sold at an average price of $250.42, for a total value of $1,515,291.42. Following the sale, the chief executive officer now owns 55,657 shares in the company, valued at $13,937,625.94. The trade was a 9.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Speights sold 610 shares of Clean Harbors stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total transaction of $146,485.40. Following the completion of the sale, the insider now owns 39,160 shares in the company, valued at approximately $9,403,882.40. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,446 shares of company stock worth $2,112,800 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Clean Harbors

Several large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in Clean Harbors by 63.4% during the third quarter. UMB Bank n.a. now owns 214 shares of the business services provider’s stock valued at $52,000 after buying an additional 83 shares during the period. Prospera Private Wealth LLC purchased a new position in Clean Harbors during the third quarter valued at $56,000. Brown Brothers Harriman & Co. purchased a new position in Clean Harbors during the second quarter valued at $56,000. CENTRAL TRUST Co lifted its position in Clean Harbors by 161.6% during the third quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock valued at $63,000 after buying an additional 160 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in Clean Harbors by 42.6% during the third quarter. TD Private Client Wealth LLC now owns 291 shares of the business services provider’s stock valued at $70,000 after buying an additional 87 shares during the period. Institutional investors own 90.43% of the company’s stock.

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.