Clean Harbors (NYSE:CLH) Lowered to “Hold” Rating by StockNews.com

Clean Harbors (NYSE:CLH) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Clean Harbors from $250.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Robert W. Baird decreased their price target on shares of Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $268.00 target price on shares of Clean Harbors in a report on Thursday, February 20th. Truist Financial decreased their target price on shares of Clean Harbors from $280.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, Stifel Nicolaus dropped their price objective on shares of Clean Harbors from $290.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.56.

Clean Harbors Stock Performance

Clean Harbors stock opened at $197.64 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.21 and a quick ratio of 1.76. The company’s 50-day moving average is $207.74 and its 200 day moving average is $231.98. Clean Harbors has a 1-year low of $178.29 and a 1-year high of $267.11. The firm has a market capitalization of $10.64 billion, a P/E ratio of 26.64 and a beta of 1.11.

Clean Harbors (NYSE:CLH) last posted its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts forecast that Clean Harbors will post 7.89 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Eric J. Dugas acquired 1,050 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $191.38 per share, with a total value of $200,949.00. Following the completion of the acquisition, the chief financial officer now owns 24,238 shares of the company’s stock, valued at $4,638,668.44. This trade represents a 4.53 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Speights sold 2,725 shares of Clean Harbors stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $190.44, for a total transaction of $518,949.00. Following the sale, the insider now directly owns 40,008 shares in the company, valued at approximately $7,619,123.52. The trade was a 6.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,341 shares of company stock worth $663,041. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

A number of hedge funds have recently modified their holdings of the business. Pictet Asset Management Holding SA raised its position in Clean Harbors by 72.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock valued at $381,602,000 after purchasing an additional 697,630 shares during the period. Norges Bank purchased a new stake in shares of Clean Harbors in the 4th quarter valued at approximately $136,974,000. Wellington Management Group LLP raised its stake in Clean Harbors by 17.2% in the fourth quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock valued at $930,707,000 after buying an additional 592,341 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Clean Harbors during the 4th quarter worth about $57,956,000. Finally, First Trust Advisors LP increased its stake in Clean Harbors by 46.7% in the fourth quarter. First Trust Advisors LP now owns 369,941 shares of the business services provider’s stock valued at $85,138,000 after purchasing an additional 117,718 shares during the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Company Profile

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.