Needham & Company LLC Reiterates Buy Rating for Clean Harbors (NYSE:CLH)

Needham & Company LLC reaffirmed their buy rating on shares of Clean Harbors (NYSE:CLHFree Report) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $268.00 target price on the business services provider’s stock.

CLH has been the topic of a number of other research reports. Truist Financial increased their target price on Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. TD Cowen assumed coverage on Clean Harbors in a research note on Friday, December 6th. They issued a “buy” rating and a $325.00 target price on the stock. Oppenheimer increased their target price on Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a research note on Monday. StockNews.com cut Clean Harbors from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird reduced their target price on Clean Harbors from $300.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Clean Harbors currently has a consensus rating of “Buy” and a consensus price target of $269.44.

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Clean Harbors Trading Up 1.0 %

Clean Harbors stock opened at $239.47 on Thursday. The stock has a market cap of $12.91 billion, a P/E ratio of 31.18 and a beta of 1.24. Clean Harbors has a fifty-two week low of $162.62 and a fifty-two week high of $267.11. The firm’s fifty day moving average price is $243.24 and its 200-day moving average price is $240.87. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLHGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. Clean Harbors had a return on equity of 17.51% and a net margin of 7.19%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. Equities research analysts forecast that Clean Harbors will post 7.21 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robert Speights sold 610 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $240.14, for a total transaction of $146,485.40. Following the completion of the sale, the insider now directly owns 39,160 shares in the company, valued at approximately $9,403,882.40. This represents a 1.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric W. Gerstenberg sold 6,051 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $250.42, for a total transaction of $1,515,291.42. Following the completion of the sale, the chief executive officer now owns 55,657 shares of the company’s stock, valued at $13,937,625.94. This trade represents a 9.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,446 shares of company stock valued at $2,112,800. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clean Harbors

Several large investors have recently made changes to their positions in the business. Reliant Investment Management LLC purchased a new position in shares of Clean Harbors during the fourth quarter valued at approximately $4,386,000. Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Clean Harbors by 4.5% during the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider’s stock valued at $22,793,000 after purchasing an additional 4,240 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Clean Harbors by 30.8% during the fourth quarter. UMB Bank n.a. now owns 280 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 66 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Clean Harbors during the fourth quarter valued at approximately $191,000. Finally, Border to Coast Pensions Partnership Ltd purchased a new position in shares of Clean Harbors during the fourth quarter valued at approximately $4,600,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Company Profile

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Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.

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Analyst Recommendations for Clean Harbors (NYSE:CLH)

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