Clean Harbors, Inc. (NYSE:CLH) had its price target lowered by Oppenheimer Holdings, Inc. from $67.00 to $62.00 in a research note issued to investors on Thursday. The brokerage currently has an outperform rating on the business services provider’s stock.
A number of other research firms have also recently commented on CLH. Zacks Investment Research cut shares of Clean Harbors from a hold rating to a sell rating in a research report on Wednesday, October 25th. Stifel Nicolaus reissued a buy rating and set a $67.00 target price on shares of Clean Harbors in a research report on Wednesday, July 19th. Needham & Company LLC reissued a buy rating and set a $66.00 target price on shares of Clean Harbors in a research report on Thursday, July 13th. Barclays PLC raised shares of Clean Harbors from an underweight rating to an equal weight rating and set a $50.00 target price for the company in a research report on Monday, August 7th. Finally, Canaccord Genuity reissued a hold rating and set a $57.00 target price on shares of Clean Harbors in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $61.00.
Clean Harbors (CLH) traded down $0.18 during trading hours on Thursday, reaching $53.24. 347,192 shares of the company were exchanged, compared to its average volume of 286,639. Clean Harbors has a 12 month low of $43.13 and a 12 month high of $61.62. 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 capitalization of $3,031.11, a PE ratio of 266.20 and a beta of 1.04.
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Clean Harbors declared that its board has initiated a share buyback program on Wednesday, November 1st that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other news, COO Eric W. Gerstenberg sold 4,667 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $50.42, for a total value of $235,310.14. Following the sale, the chief operating officer now owns 91,950 shares in the company, valued at $4,636,119. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric J. Dugas sold 933 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $54.67, for a total transaction of $51,007.11. Following the completion of the sale, the senior vice president now owns 14,766 shares in the company, valued at approximately $807,257.22. The disclosure for this sale can be found here. Insiders sold 6,090 shares of company stock worth $313,845 in the last quarter. Company insiders own 8.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its stake in shares of Clean Harbors by 5.5% in the third 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 during the period. Parametrica Management Ltd acquired a new stake in shares of Clean Harbors in the third quarter worth $325,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Clean Harbors in the third quarter worth $304,000. Fox Run Management L.L.C. increased its stake in shares of Clean Harbors by 117.0% in the third 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 during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Clean Harbors in the third quarter worth $282,000. Hedge funds and other institutional investors own 94.14% of the company’s stock.
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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