Clean Harbors, Inc. (NYSE:CLH) had its price objective reduced by BMO Capital Markets from $65.00 to $59.00 in a research note issued to investors on Thursday morning. They currently have an outperform rating on the business services provider’s stock.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus reiterated 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 reiterated 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 upgraded Clean Harbors from an underweight rating to an equal weight rating and set a $50.00 target price on the stock in a research report on Monday, August 7th. ValuEngine upgraded Clean Harbors from a sell rating to a hold rating in a research report on Thursday, August 31st. Finally, Canaccord Genuity reiterated 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 assigned a hold rating and six have assigned a buy rating to the company’s stock. Clean Harbors has an average rating of Hold and a consensus target price of $61.00.
Clean Harbors (NYSE CLH) traded down $0.18 on Thursday, hitting $53.24. The stock had a trading volume of 347,192 shares, compared to its average volume of 286,639. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.19 and a quick ratio of 1.72. Clean Harbors has a twelve month low of $43.13 and a twelve month high of $61.62. The firm 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 buyback $300.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other Clean Harbors news, EVP Brian P. Weber sold 490 shares of Clean Harbors stock in a transaction that occurred on 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 owns 59,413 shares of the company’s stock, valued at approximately $3,337,822.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric W. Gerstenberg sold 4,667 shares of Clean Harbors stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 91,950 shares in the company, valued at approximately $4,636,119. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,090 shares of company stock worth $313,845. Corporate insiders own 8.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CLH. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Clean Harbors by 9.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 188 shares in the last quarter. World Asset Management Inc purchased a new stake in Clean Harbors in the 2nd quarter valued at approximately $201,000. Balyasny Asset Management LLC purchased a new stake in Clean Harbors in the 2nd quarter valued at approximately $203,000. Shelton Capital Management purchased a new stake in Clean Harbors in the 2nd quarter valued at approximately $221,000. Finally, LS Investment Advisors LLC boosted its holdings in Clean Harbors by 16.8% in the 2nd quarter. LS Investment Advisors LLC now owns 4,164 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 598 shares in the last quarter. 94.14% of the stock is currently 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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