Clean Harbors (NYSE:CLH) Upgraded to “Strong-Buy” by StockNews.com

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

A number of other research firms also recently issued reports on CLH. Stifel Nicolaus reaffirmed a “buy” rating and set a $275.00 price target (up previously from $240.00) on shares of Clean Harbors in a research note on Thursday, August 1st. Needham & Company LLC upped their target price on shares of Clean Harbors from $235.00 to $274.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial lifted their price target on Clean Harbors from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. The Goldman Sachs Group upped their price objective on Clean Harbors from $223.00 to $256.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Oppenheimer raised their price objective on Clean Harbors from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Clean Harbors has an average rating of “Buy” and a consensus target price of $242.40.

Clean Harbors Price Performance

Shares of Clean Harbors stock traded up $0.39 during trading on Monday, reaching $244.36. 154,667 shares of the stock traded hands, compared to its average volume of 300,622. Clean Harbors has a 52-week low of $132.92 and a 52-week high of $247.52. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.76. The business has a fifty day simple moving average of $234.80 and a two-hundred day simple moving average of $216.62. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 35.36 and a beta of 1.20.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.25. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Clean Harbors had a return on equity of 17.12% and a net margin of 6.97%. The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. Sell-side analysts expect that Clean Harbors will post 7.65 EPS for the current year.

Institutional Investors Weigh In On Clean Harbors

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of Clean Harbors by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 3,654,929 shares of the business services provider’s stock worth $637,822,000 after purchasing an additional 182,622 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Clean Harbors by 5.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,586,461 shares of the business services provider’s stock valued at $319,371,000 after buying an additional 78,848 shares in the last quarter. Clearbridge Investments LLC boosted its position in Clean Harbors by 30.6% in the 2nd quarter. Clearbridge Investments LLC now owns 1,058,415 shares of the business services provider’s stock valued at $239,361,000 after buying an additional 248,240 shares during the period. Bessemer Group Inc. grew its stake in Clean Harbors by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 1,013,449 shares of the business services provider’s stock worth $204,019,000 after acquiring an additional 12,411 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Clean Harbors by 20.3% during the second quarter. Marshall Wace LLP now owns 537,274 shares of the business services provider’s stock worth $121,505,000 after acquiring an additional 90,756 shares during the period. 90.43% of the stock is owned by 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.