Clean Harbors (NYSE:CLH) Hits New 12-Month High – Time to Buy?

Clean Harbors, Inc. (NYSE:CLH)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $299.55 and last traded at $295.4830, with a volume of 98403 shares changing hands. The stock had previously closed at $290.04.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CLH shares. CJS Securities upgraded shares of Clean Harbors to a “strong-buy” rating in a research note on Thursday, December 11th. Citigroup upped their target price on Clean Harbors from $274.00 to $302.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $320.00 target price on shares of Clean Harbors in a research report on Monday, February 23rd. BMO Capital Markets lifted their price target on Clean Harbors from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, Zacks Research raised Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $299.27.

Clean Harbors Stock Performance

The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The stock has a market cap of $15.66 billion, a PE ratio of 40.67 and a beta of 0.93. The business’s 50-day moving average price is $278.34 and its 200-day moving average price is $249.05.

Clean Harbors (NYSE:CLH) last posted its earnings results on Wednesday, February 18th. The business services provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. Clean Harbors’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 earnings per share. As a group, equities research analysts expect that Clean Harbors, Inc. will post 7.89 earnings per share for the current fiscal year.

Insider Transactions at Clean Harbors

In related news, Director Marcy L. Reed sold 836 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total transaction of $240,717.84. Following the transaction, the director directly owned 5,081 shares of the company’s stock, valued at $1,463,023.14. This represents a 14.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric W. Gerstenberg sold 1,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $293.00, for a total value of $293,000.00. Following the completion of the sale, the chief executive officer owned 38,877 shares of the company’s stock, valued at approximately $11,390,961. This trade represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,597 shares of company stock worth $3,895,286. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clean Harbors

Several hedge funds have recently modified their holdings of the stock. HB Wealth Management LLC increased its stake in Clean Harbors by 5.2% during the 3rd quarter. HB Wealth Management LLC now owns 990 shares of the business services provider’s stock worth $230,000 after buying an additional 49 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Clean Harbors by 0.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,460 shares of the business services provider’s stock valued at $2,197,000 after acquiring an additional 49 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Clean Harbors by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider’s stock valued at $549,000 after acquiring an additional 53 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Clean Harbors by 5.4% in the fourth quarter. GAMMA Investing LLC now owns 1,034 shares of the business services provider’s stock worth $242,000 after acquiring an additional 53 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Clean Harbors by 16.9% during the third quarter. US Bancorp DE now owns 374 shares of the business services provider’s stock worth $87,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds 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.