KeyCorp Reaffirms Hold Rating for Clean Harbors, Inc. (CLH)

KeyCorp reissued their hold rating on shares of Clean Harbors, Inc. (NYSE:CLH) in a report published on Wednesday morning.

CLH has been the subject of several 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 upgraded shares of Clean Harbors from a sell rating to a hold rating in a research note on Thursday, August 31st. Needham & Company LLC restated a buy rating and set 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 restated a buy rating and set 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 issued a hold rating and six have given a buy rating to the company. Clean Harbors has a consensus rating of Hold and an average price target of $61.00.

Clean Harbors (NYSE:CLH) opened at $53.24 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.19 and a quick ratio of 1.72. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 267.10 and a beta of 1.04.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Clean Harbors had a net margin of 0.13% and a return on equity of 1.05%. The business had revenue of $752.80 million for the quarter, compared to analyst estimates of $735.63 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. analysts forecast that Clean Harbors will post 0.64 earnings per share for the current fiscal year.

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Clean Harbors declared that its board has authorized a stock repurchase plan on Wednesday, November 1st that permits the company to buyback $300.00 million in shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

In other news, EVP Brian P. Weber sold 490 shares of Clean Harbors stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $56.18, for a total transaction of $27,528.20. Following the completion of the transaction, the executive vice president now directly owns 59,413 shares of the company’s stock, valued at approximately $3,337,822.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Eric J. Dugas sold 933 shares of Clean Harbors stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $54.67, for a total transaction of $51,007.11. Following the transaction, the senior vice president now directly owns 14,766 shares of the company’s stock, valued at $807,257.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,090 shares of company stock valued at $313,845. Insiders own 8.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its holdings in Clean Harbors by 5.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 146,049 shares of the business services provider’s stock worth $8,281,000 after acquiring an additional 7,593 shares in the last quarter. Parametrica Management Ltd purchased a new stake in Clean Harbors in the 3rd quarter worth $325,000. Crossmark Global Holdings Inc. purchased a new stake in Clean Harbors in the 3rd quarter worth $304,000. Fox Run Management L.L.C. increased its holdings in Clean Harbors by 117.0% in the 3rd quarter. Fox Run Management L.L.C. now owns 10,200 shares of the business services provider’s stock worth $578,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in Clean Harbors in the 3rd quarter worth $282,000. 94.14% of the stock is owned by institutional investors.

About Clean Harbors

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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