BMO Capital Markets Has Lowered Expectations for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its target price lowered by BMO Capital Markets from $284.00 to $270.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other research firms have also commented on CLH. TD Cowen began coverage on shares of Clean Harbors in a report on Friday, December 6th. They set a “buy” rating and a $325.00 target price on the stock. Oppenheimer increased their target price on shares of Clean Harbors from $255.00 to $256.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Stifel Nicolaus increased their target price on shares of Clean Harbors from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Truist Financial increased their price target on shares of Clean Harbors from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird dropped their price target on shares of Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Clean Harbors presently has an average rating of “Buy” and a consensus price target of $270.56.

Clean Harbors Price Performance

CLH stock opened at $211.97 on Thursday. 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 has a 52 week low of $176.02 and a 52 week high of $267.11. The firm’s fifty day moving average is $233.69 and its 200 day moving average is $242.09. The firm has a market cap of $11.43 billion, a P/E ratio of 27.60 and a beta of 1.24.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.36 by $0.19. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the firm earned $1.82 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts predict that Clean Harbors will post 7.21 earnings per share for the current year.

Insider Transactions at Clean Harbors

In other news, EVP Brian P. Weber sold 861 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total value of $224,987.91. Following the completion of the sale, the executive vice president now directly owns 59,346 shares of the company’s stock, valued at approximately $15,507,703.26. This trade represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren States sold 308 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.79, for a total transaction of $70,467.32. Following the completion of the sale, the director now directly owns 11,918 shares of the company’s stock, valued at approximately $2,726,719.22. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,785 shares of company stock valued at $444,558. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Clean Harbors

Several institutional investors and hedge funds have recently modified their holdings of CLH. Kapitalo Investimentos Ltda purchased a new stake in shares of Clean Harbors in the 4th quarter worth about $32,000. Skandinaviska Enskilda Banken AB publ lifted its position in Clean Harbors by 2,650.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 165 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 159 shares during the period. Allworth Financial LP lifted its position in Clean Harbors by 130.4% during the 4th quarter. Allworth Financial LP now owns 182 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 103 shares during the period. Assetmark Inc. lifted its position in Clean Harbors by 10,250.0% during the 4th quarter. Assetmark Inc. now owns 207 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 205 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in Clean Harbors during the 3rd quarter valued at about $56,000. 90.43% of the stock is owned by hedge funds and other institutional investors.

About Clean Harbors

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.