Needham & Company LLC Cuts Clean Harbors (NYSE:CLH) Price Target to $268.00

Clean Harbors (NYSE:CLH) had its target price reduced by Needham & Company LLC from $274.00 to $268.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on CLH. Stifel Nicolaus reissued a “buy” rating and set a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a research report on Thursday, August 1st. StockNews.com raised Clean Harbors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Truist Financial raised their price target on Clean Harbors from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. The Goldman Sachs Group lifted their price objective on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Oppenheimer lifted their price objective on Clean Harbors from $252.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $254.33.

Clean Harbors Stock Performance

Shares of CLH stock opened at $233.00 on Thursday. The stock has a fifty day moving average price of $246.34 and a 200 day moving average price of $229.26. The stock has a market cap of $12.58 billion, a PE ratio of 30.34 and a beta of 1.20. Clean Harbors has a 1 year low of $146.66 and a 1 year high of $267.11. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). The company had revenue of $1.53 billion for 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 business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. Sell-side analysts forecast that Clean Harbors will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction 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 approximately $18,955,400.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $245.74, for a total transaction 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 approximately $18,955,400.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren States sold 308 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $260.74, for a total value of $80,307.92. Following the sale, the director now directly owns 13,150 shares of the company’s stock, valued at approximately $3,428,731. This trade represents 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. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Clean Harbors during the second quarter worth about $25,000. UMB Bank n.a. lifted its stake in shares of Clean Harbors by 63.4% during 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. Brown Brothers Harriman & Co. acquired a new position in shares of Clean Harbors during the second quarter worth about $56,000. CENTRAL TRUST Co lifted its stake in shares of Clean Harbors by 161.6% during the third quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider’s stock worth $63,000 after purchasing an additional 160 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Clean Harbors by 117.7% during the second quarter. Blue Trust Inc. now owns 320 shares of the business services provider’s stock worth $72,000 after purchasing an additional 173 shares in the last quarter. Institutional investors and hedge funds 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.