Short Interest in Clean Harbors, Inc. (NYSE:CLH) Decreases By 13.8%

Clean Harbors, Inc. (NYSE:CLH) saw a significant decline in short interest in February. As of February 13th, there was short interest totaling 1,063,775 shares, a decline of 13.8% from the January 29th total of 1,233,427 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 482,220 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 482,220 shares, the short-interest ratio is presently 2.2 days. Currently, 2.1% of the shares of the company are short sold.

Clean Harbors Price Performance

Shares of CLH traded down $4.95 during mid-day trading on Wednesday, hitting $292.20. 111,726 shares of the stock were exchanged, compared to its average volume of 503,102. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.33. The company has a market cap of $15.46 billion, a PE ratio of 40.14 and a beta of 0.93. Clean Harbors has a 52-week low of $178.29 and a 52-week high of $298.12. The firm has a 50-day moving average of $262.51 and a two-hundred day moving average of $242.46.

Clean Harbors (NYSE:CLH) last announced its quarterly earnings results on Wednesday, February 18th. The business services provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.03. Clean Harbors had a net margin of 6.48% and a return on equity of 14.47%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Clean Harbors’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts predict that Clean Harbors will post 7.89 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Eric J. Dugas sold 2,788 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $281.31, for a total value of $784,292.28. Following the completion of the sale, the chief financial officer directly owned 15,933 shares of the company’s stock, valued at approximately $4,482,112.23. This represents a 14.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John R. Welch sold 750 shares of Clean Harbors stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $273.07, for a total transaction of $204,802.50. Following the transaction, the director directly owned 10,237 shares in the company, valued at $2,795,417.59. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 7,679 shares of company stock worth $2,132,403. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Clean Harbors

A number of institutional investors and hedge funds have recently modified their holdings of CLH. Elyxium Wealth LLC bought a new stake in Clean Harbors in the fourth quarter worth $26,000. Quattro Advisors LLC bought a new stake in shares of Clean Harbors in the 4th quarter worth about $26,000. MidFirst Bank purchased a new position in shares of Clean Harbors during the 4th quarter worth about $28,000. Parkside Financial Bank & Trust grew its holdings in Clean Harbors by 205.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 119 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Clean Harbors in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLH. TD Cowen restated a “buy” rating on shares of Clean Harbors in a research note on Thursday, February 19th. Zacks Research upgraded Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $320.00 price objective on shares of Clean Harbors in a research note on Monday, February 23rd. Oppenheimer lifted their target price on Clean Harbors from $283.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Finally, Robert W. Baird set a $300.00 price target on Clean Harbors in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.18.

About Clean Harbors

Clean Harbors, Inc is a leading provider of environmental, energy and industrial services in North America. The company specializes in the collection, transportation and disposal of hazardous and non-hazardous wastes, emergency spill response and remediation, industrial cleaning and on-site field services. Its comprehensive service offering also includes chemical neutralization, drum crushing, high-pressure water blasting, tank cleaning and vacuum services designed to help customers meet stringent environmental regulations.

Founded in 1980 by Alan S.