Clean Harbors (NYSE:CLH) Upgraded by CIBC to “Outperform”

CIBC upgraded shares of Clean Harbors (NYSE:CLH) from a market perform rating to an outperform rating in a research report released on Thursday, FirstToMarketsRatingsTable reports. They currently have $88.00 price objective on the business services provider’s stock.

Several other equities research analysts have also recently weighed in on CLH. TheStreet cut Clean Harbors from a b- rating to a c+ rating in a research report on Tuesday, May 7th. UBS Group upped their price target on Clean Harbors from $70.00 to $73.00 and gave the company a neutral rating in a research report on Thursday, April 4th. Finally, Oppenheimer upgraded Clean Harbors from a market perform rating to an outperform rating and set a $88.00 price target on the stock in a research report on Thursday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $81.25.

Shares of CLH traded up $0.05 during midday trading on Thursday, hitting $76.03. 295,600 shares of the company traded hands, compared to its average volume of 405,143. The stock’s 50-day moving average is $70.51. Clean Harbors has a one year low of $46.21 and a one year high of $80.06. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 60.34 and a beta of 1.61. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.59 and a current ratio of 1.92.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Clean Harbors had a return on equity of 7.01% and a net margin of 2.38%. The firm had revenue of $868.68 million for the quarter, compared to analysts’ expectations of $880.97 million. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Clean Harbors will post 1.82 earnings per share for the current fiscal year.

In other Clean Harbors news, CFO Michael Louis Battles sold 5,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $70.09, for a total value of $350,450.00. Following the completion of the transaction, the chief financial officer now owns 35,003 shares in the company, valued at $2,453,360.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan S. Mckim sold 38,682 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $65.32, for a total value of $2,526,708.24. Following the completion of the transaction, the insider now owns 3,659,858 shares of the company’s stock, valued at approximately $239,061,924.56. The disclosure for this sale can be found here. Insiders have sold 61,824 shares of company stock valued at $4,110,806 in the last three months. 8.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new position in shares of Clean Harbors during the fourth quarter valued at approximately $30,000. O Shaughnessy Asset Management LLC grew its position in Clean Harbors by 148.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 761 shares of the business services provider’s stock worth $54,000 after acquiring an additional 455 shares during the period. Quadrant Capital Group LLC purchased a new position in Clean Harbors in the first quarter worth approximately $56,000. Meridian Wealth Management LLC purchased a new position in Clean Harbors in the first quarter worth approximately $70,000. Finally, Coastal Capital Group Inc. purchased a new position in Clean Harbors in the second quarter worth approximately $107,000. 90.04% of the stock is currently owned by hedge funds and other institutional investors.

About Clean Harbors

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. The company operates through two segments, Environmental Services and Safety-Kleen. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste that include resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and CleanPack, a service to collect, identify, categorize, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous wastes.

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Analyst Recommendations for Clean Harbors (NYSE:CLH)

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