Clean Harbors (NYSE:CLH) Reaches New 52-Week High – Here’s Why

Clean Harbors, Inc. (NYSE:CLH)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $267.11 and last traded at $262.93, with a volume of 29843 shares changing hands. The stock had previously closed at $256.52.

Analysts Set New Price Targets

CLH has been the topic of a number of recent analyst reports. Oppenheimer increased their target price on Clean Harbors from $252.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Truist Financial lifted their price objective on shares of Clean Harbors from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Robert W. Baird upped their target price on shares of Clean Harbors from $242.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Clean Harbors from $235.00 to $274.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $250.89.

Clean Harbors Trading Up 2.8 %

The company’s fifty day moving average is $246.51 and its 200-day moving average is $228.47. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.76. The company has a market capitalization of $14.23 billion, a PE ratio of 37.12 and a beta of 1.20.

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

Insiders Place Their Bets

In related news, Director Lauren States sold 309 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $244.09, for a total value of $75,423.81. Following the transaction, the director now directly owns 13,458 shares of the company’s stock, valued at $3,284,963.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Lauren States sold 309 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $244.09, for a total transaction of $75,423.81. Following the completion of the transaction, the director now owns 13,458 shares of the company’s stock, valued at $3,284,963.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Louis Battles sold 10,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $18,955,400.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,617 shares of company stock valued at $2,613,132. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clean Harbors

Several large investors have recently bought and sold shares of the company. Moody National Bank Trust Division raised its holdings in Clean Harbors by 1.0% in the 2nd quarter. Moody National Bank Trust Division now owns 4,843 shares of the business services provider’s stock valued at $1,095,000 after buying an additional 47 shares during the period. Quent Capital LLC lifted its holdings in shares of Clean Harbors by 6.9% in the 2nd quarter. Quent Capital LLC now owns 725 shares of the business services provider’s stock worth $164,000 after acquiring an additional 47 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Clean Harbors by 10.5% during the 2nd quarter. Fifth Third Bancorp now owns 528 shares of the business services provider’s stock worth $119,000 after purchasing an additional 50 shares during the period. MJP Associates Inc. ADV increased its holdings in Clean Harbors by 1.1% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,734 shares of the business services provider’s stock valued at $1,071,000 after purchasing an additional 51 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Clean Harbors by 11.8% in the 3rd quarter. Signaturefd LLC now owns 491 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 52 shares during the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

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.