Clean Harbors (NYSE:CLH) Reaches New 52-Week High – What’s Next?

Clean Harbors, Inc. (NYSE:CLH) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $259.32 and last traded at $258.9670, with a volume of 439812 shares changing hands. The stock had previously closed at $254.08.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group started coverage on Clean Harbors in a report on Monday, November 24th. They issued a “neutral” rating and a $228.00 target price on the stock. UBS Group reduced their price objective on Clean Harbors from $245.00 to $240.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Barclays decreased their price objective on Clean Harbors from $253.00 to $230.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $237.00 target price on shares of Clean Harbors in a report on Thursday, October 30th. Finally, Wells Fargo & Company started coverage on shares of Clean Harbors in a research report on Thursday, November 13th. They issued an “equal weight” rating and a $220.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $251.00.

Clean Harbors Stock Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 2.44 and a quick ratio of 2.09. The business has a 50-day moving average of $234.05 and a 200-day moving average of $234.27. The company has a market capitalization of $14.12 billion, a P/E ratio of 36.64 and a beta of 0.95.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.16). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Clean Harbors had a return on equity of 14.61% and a net margin of 6.51%.The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $2.12 earnings per share. On average, sell-side analysts anticipate that Clean Harbors, Inc. will post 7.89 EPS for the current year.

Insider Buying and Selling at Clean Harbors

In related news, CEO Eric W. Gerstenberg sold 601 shares of Clean Harbors stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $240.90, for a total transaction of $144,780.90. Following the transaction, the chief executive officer directly owned 50,454 shares of the company’s stock, valued at $12,154,368.60. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 5.60% of the company’s stock.

Institutional Trading of Clean Harbors

Hedge funds have recently bought and sold shares of the stock. Root Financial Partners LLC purchased a new position in shares of Clean Harbors in the 3rd quarter valued at $30,000. True Wealth Design LLC grew its stake in Clean Harbors by 102.7% in the fourth quarter. True Wealth Design LLC now owns 152 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 77 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Clean Harbors by 145.3% in the second quarter. Golden State Wealth Management LLC now owns 184 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 109 shares during the last quarter. Bayforest Capital Ltd bought a new position in Clean Harbors in the third quarter worth about $44,000. Finally, First Horizon Corp purchased a new stake in shares of Clean Harbors during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.