Clean Harbors Receives Upgrade to Buy Rating by StockNews.com

Clean Harbors (NYSE:CLH) has recently been upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating, according to a research note released on Wednesday.

A number of other financial analysts have also weighed in on Clean Harbors. For instance, Needham & Company LLC maintained a "buy" rating with an updated price target of $268.00 on February 20th. Oppenheimer adjusted their price target on Clean Harbors from $256.00 to $254.00 while keeping an "outperform" rating on the stock. Additionally, TD Cowen started coverage on Clean Harbors, assigning a "buy" rating along with a price target of $325.00. Stifel Nicolaus reduced their price target from $290.00 to $285.00 but still rated it as a "buy" on February 20th. Finally, Truist Financial decreased their price target from $280.00 to $270.00 and reaffirmed their "buy" rating. In summary, while one analyst has given the stock a hold rating, eight have designated it as a buy, and one has issued a strong buy rating. Data from MarketBeat.com shows that Clean Harbors currently holds an average rating of "buy" with a target price averaging around $266.56.

Clean Harbors Stock Performance

On Wednesday, shares of Clean Harbors traded positively, increasing by $1.81 to reach $196.72. The trading volume for Clean Harbors was approximately 378,946 shares, which is higher than its average volume of 315,660 shares. Over the past year, the stock has seen a low of $186.54 and a high of $267.11. The stock’s current 50-day simple moving average stands at $221.86, with its 200-day simple moving average at $237.29. Clean Harbors has a market capitalization of $10.59 billion, a price-to-earnings ratio of 26.51, and a beta of 1.22. Additionally, the company's current ratio is 2.21, and it has a quick ratio of 1.76 with a debt-to-equity ratio of 1.08.

Clean Harbors also recently reported its quarterly earnings on February 19th. The company achieved an earnings per share (EPS) of $1.55, surpassing market expectations of $1.36 by $0.19. In terms of revenue, Clean Harbors recorded $1.43 billion, meeting the consensus estimate of the same amount. Year-over-year, the company has experienced a revenue increase of 6.9%. Last year during the same timeframe, Clean Harbors had an EPS of $1.82. Analysts expect that Clean Harbors will post an EPS of 7.89 for the current fiscal year.

Insider Activities

In recent insider trading, Robert Speights sold 2,725 shares of Clean Harbors stock on March 10th for an average price of $190.44, amounting to a total of $518,949. His current ownership now consists of 40,008 shares valued at approximately $7,619,123.52, reflecting a 6.38% decrease in his position. Additionally, CFO Eric J. Dugas purchased 1,050 shares on the same day at an average price of $191.38 per share, totaling $200,949. Following this transaction, he now owns 24,238 shares, which are valued at around $4,638,668.44, indicating a 4.53% increase in his ownership. The details of these transactions have been filed with the SEC.

Institutional Investments

Recent changes in institutional investment have also been noted. For instance, KBC Group NV increased its stake in Clean Harbors by 17.0% in the third quarter, bringing their total to 1,412 shares valued at $341,000 after acquiring an additional 205 shares. Similarly, CIBC Asset Management Inc raised its holdings by 3.5%, now owning 1,563 shares valued at $378,000 after adding 53 shares. Thrivent Financial for Lutherans raised its position by 18.1%, totaling 75,803 shares valued at $18,323,000 with an additional 11,639 shares acquired. Pathstone Holdings LLC also increased their stake by 1.3% to 5,893 shares, valued at $1,424,000. Lastly, Caprock Group LLC saw an increase of 29.6% in their holdings, now owning 1,621 shares valued at $392,000. Institutional investors collectively own about 90.43% of Clean Harbors' shares.

About Clean Harbors

Clean Harbors, Inc. provides a range of environmental and industrial services in the U.S. and internationally. The company is divided into two main segments: Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment is involved in the collection, transportation, treatment, and disposal of both hazardous and non-hazardous waste, including offering CleanPack services for the safe handling and disposal of laboratory chemicals and household hazardous waste.

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