Zacks Investment Research lowered shares of Clean Harbors, Inc. (NYSE:CLH) from a hold rating to a sell rating in a research note published on Wednesday.
According to Zacks, “Clean Harbors has underperformed the industry year to date. The company is highly exposed to foreign exchange rate risk. The primary exposure relates to operating expenses in Canada, where a large extent of the company’s manufacturing facilities are located. The company’s exploration, drilling activity and production are largely dependent upon the operation of oil rigs, as well as global and North American oil prices. Fuel price volatility and challenging macroeconomic environment are clouding the global oil picture, thereby lowering activity levels and affecting margins. Seasonality of revenues remains another concern for the company. The seasonal variations reduce the predictability of income and impair the company’s earnings. However, Clean Harbors is improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost-management initiatives.”
Other research analysts have also issued reports about the company. Barclays PLC raised Clean Harbors from an underweight rating to an equal weight rating and set a $50.00 price objective on the stock in a report on Monday, August 7th. Canaccord Genuity reissued a hold rating and issued a $57.00 price objective on shares of Clean Harbors in a report on Wednesday, August 9th. BMO Capital Markets assumed coverage on Clean Harbors in a report on Thursday, June 29th. They issued an outperform rating and a $65.00 price objective on the stock. BidaskClub lowered Clean Harbors from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a buy rating and issued a $67.00 price objective on shares of Clean Harbors in a report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Clean Harbors presently has an average rating of Hold and an average price target of $62.00.
Shares of Clean Harbors (CLH) traded down 3.12% on Wednesday, reaching $53.10. The company’s stock had a trading volume of 560,693 shares. The firm has a 50 day moving average price of $55.81 and a 200-day moving average price of $56.03. Clean Harbors has a 12-month low of $43.03 and a 12-month high of $61.62. The stock’s market cap is $3.03 billion.
Clean Harbors (NYSE:CLH) last announced its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). The business had revenue of $752.80 million for the quarter, compared to analyst estimates of $735.63 million. Clean Harbors had a negative net margin of 0.65% and a positive return on equity of 0.79%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 earnings per share. Equities research analysts expect that Clean Harbors will post $0.67 EPS for the current year.
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In related news, COO Eric W. Gerstenberg sold 4,667 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $50.42, for a total transaction of $235,310.14. Following the sale, the chief operating officer now directly owns 91,950 shares of the company’s stock, valued at $4,636,119. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian P. Weber sold 490 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $56.18, for a total value of $27,528.20. Following the sale, the executive vice president now directly owns 59,413 shares in the company, valued at $3,337,822.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,090 shares of company stock worth $313,845. 8.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CLH. BlackRock Inc. grew its holdings in Clean Harbors by 11,874.0% during the first quarter. BlackRock Inc. now owns 4,345,138 shares of the business services provider’s stock worth $241,676,000 after acquiring an additional 4,308,850 shares during the period. Janus Henderson Group PLC acquired a new stake in Clean Harbors during the second quarter worth about $57,925,000. Vanguard Group Inc. grew its holdings in Clean Harbors by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,048,109 shares of the business services provider’s stock worth $225,156,000 after acquiring an additional 170,691 shares during the period. Goldman Sachs Group Inc. grew its holdings in Clean Harbors by 85.3% during the first quarter. Goldman Sachs Group Inc. now owns 344,055 shares of the business services provider’s stock worth $19,136,000 after acquiring an additional 158,348 shares during the period. Finally, Marathon Asset Management LLP grew its holdings in Clean Harbors by 21.3% during the second quarter. Marathon Asset Management LLP now owns 593,138 shares of the business services provider’s stock worth $33,113,000 after acquiring an additional 104,202 shares during the period. 94.18% of the stock is currently owned by hedge funds and other institutional investors.
Clean Harbors Company Profile
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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