BMO Capital Markets Raises Clean Harbors (NYSE:CLH) Price Target to $230.00

Clean Harbors (NYSE:CLH) had its price objective boosted by investment analysts at BMO Capital Markets from $225.00 to $230.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 12.77% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Truist Financial increased their target price on Clean Harbors from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $220.00 price target on shares of Clean Harbors in a research note on Monday, April 22nd. StockNews.com raised shares of Clean Harbors from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th. Oppenheimer raised their price target on shares of Clean Harbors from $178.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, Robert W. Baird raised their price target on shares of Clean Harbors from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $208.90.

Clean Harbors Price Performance

Shares of CLH traded up $1.60 during trading hours on Thursday, hitting $203.96. The stock had a trading volume of 153,824 shares, compared to its average volume of 323,935. The company’s fifty day moving average is $192.95 and its two-hundred day moving average is $176.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.98 and a quick ratio of 1.66. Clean Harbors has a 52 week low of $129.70 and a 52 week high of $206.29. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 29.15 and a beta of 1.24.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, May 1st. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. Clean Harbors had a net margin of 6.99% and a return on equity of 17.83%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Clean Harbors will post 7.4 EPS for the current year.

Insider Buying and Selling at Clean Harbors

In other news, EVP Brian P. Weber sold 7,996 shares of Clean Harbors stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $199.07, for a total transaction of $1,591,763.72. Following the completion of the sale, the executive vice president now owns 62,803 shares of the company’s stock, valued at $12,502,193.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John T. Preston sold 1,913 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $188.36, for a total value of $360,332.68. Following the completion of the transaction, the director now owns 4,767 shares of the company’s stock, valued at $897,912.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Brian P. Weber sold 7,996 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $199.07, for a total value of $1,591,763.72. Following the completion of the transaction, the executive vice president now directly owns 62,803 shares of the company’s stock, valued at approximately $12,502,193.21. The disclosure for this sale can be found here. Insiders sold 25,185 shares of company stock valued at $4,819,554 in the last quarter. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Clean Harbors in the fourth quarter valued at about $87,074,000. Deutsche Bank AG grew its holdings in shares of Clean Harbors by 3,711.0% during the third quarter. Deutsche Bank AG now owns 277,285 shares of the business services provider’s stock worth $46,406,000 after purchasing an additional 270,009 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Clean Harbors by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock worth $637,822,000 after purchasing an additional 182,622 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Clean Harbors by 61.6% during the third quarter. Ameriprise Financial Inc. now owns 394,245 shares of the business services provider’s stock worth $65,983,000 after purchasing an additional 150,251 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new stake in shares of Clean Harbors during the fourth quarter worth about $23,999,000. 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.