Clean Harbors, Inc. (CLH) Upgraded to “Market Perform” at Raymond James Financial, Inc.

Clean Harbors, Inc. (NYSE:CLH) was upgraded by investment analysts at Raymond James Financial, Inc. from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday.

CLH has been the topic of a number of other reports. Zacks Investment Research cut shares of Clean Harbors from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. ValuEngine raised shares of Clean Harbors from a “sell” rating to a “hold” rating in a research note on Thursday, August 31st. Needham & Company LLC reissued a “buy” rating and issued a $66.00 price objective on shares of Clean Harbors in a research note on Thursday, July 13th. BidaskClub cut shares of Clean Harbors from a “sell” rating to a “strong sell” rating in a research note 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 research note on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $62.00.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.03). The company had revenue of $752.80 million for the quarter, compared to analyst estimates of $735.63 million. Clean Harbors had a positive return on equity of 0.79% and a negative net margin of 0.65%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share.

Clean Harbors declared that its Board of Directors has authorized a stock buyback program on Wednesday, November 1st that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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In other news, COO Eric W. Gerstenberg sold 4,667 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $50.42, for a total transaction of $235,310.14. Following the transaction, the chief operating officer now directly owns 91,950 shares in the company, valued at approximately $4,636,119. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Brian P. Weber sold 490 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $56.18, for a total transaction of $27,528.20. Following the transaction, the executive vice president now 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 quarter, insiders have sold 6,090 shares of company stock worth $313,845. Insiders own 8.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Clean Harbors by 11,874.0% in the first quarter. BlackRock Inc. now owns 4,345,138 shares of the business services provider’s stock valued at $241,676,000 after buying an additional 4,308,850 shares during the period. Vanguard Group Inc. raised its holdings in Clean Harbors by 1.7% in the second quarter. Vanguard Group Inc. now owns 4,116,699 shares of the business services provider’s stock valued at $229,836,000 after buying an additional 68,590 shares during the period. Dimensional Fund Advisors LP raised its holdings in Clean Harbors by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,887,610 shares of the business services provider’s stock valued at $105,383,000 after buying an additional 8,095 shares during the period. State Street Corp raised its holdings in Clean Harbors by 1.6% in the second quarter. State Street Corp now owns 1,373,858 shares of the business services provider’s stock valued at $76,701,000 after buying an additional 21,037 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in Clean Harbors in the second quarter valued at approximately $57,925,000. Hedge funds and other institutional investors own 94.14% of the company’s stock.

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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