Clean Harbors (NYSE:CLH) Hits New 12-Month High – Here’s Why

Clean Harbors, Inc. (NYSE:CLH) reached a new 52-week high on Thursday . The stock traded as high as $289.00 and last traded at $287.16, with a volume of 13593 shares trading hands. The stock had previously closed at $286.04.

Analysts Set New Price Targets

A number of research firms have recently commented on CLH. The Goldman Sachs Group increased their target price on Clean Harbors from $228.00 to $253.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Truist Financial boosted their target price on shares of Clean Harbors from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Barclays lifted their price target on Clean Harbors from $230.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company upped their price objective on Clean Harbors from $248.00 to $291.00 and gave the company an “equal weight” rating in a research report on Thursday, February 19th. Finally, CJS Securities raised Clean Harbors to a “strong-buy” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.18.

Clean Harbors Trading Up 0.5%

The firm has a market capitalization of $15.22 billion, a P/E ratio of 39.47 and a beta of 0.96. The stock has a 50-day simple moving average of $258.07 and a two-hundred day simple moving average of $241.08. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

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

Insider Buying and Selling at Clean Harbors

In other Clean Harbors news, CFO Eric J. Dugas sold 2,788 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $281.31, for a total transaction of $784,292.28. Following the completion of the sale, the chief financial officer owned 15,933 shares in the company, valued at $4,482,112.23. This represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric W. Gerstenberg sold 601 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $240.90, for a total value of $144,780.90. Following the completion of the transaction, the chief executive officer directly owned 50,454 shares of the company’s stock, valued at approximately $12,154,368.60. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 7,679 shares of company stock worth $2,132,403. 5.60% of the stock is owned by company insiders.

Institutional Trading of Clean Harbors

A number of institutional investors have recently modified their holdings of CLH. Elyxium Wealth LLC acquired a new stake in Clean Harbors in the fourth quarter valued at approximately $26,000. Quattro Advisors LLC purchased a new stake in shares of Clean Harbors during the 4th quarter valued at $26,000. MidFirst Bank acquired a new stake in shares of Clean Harbors in the 4th quarter worth $28,000. Parkside Financial Bank & Trust grew its stake 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 worth $28,000 after buying an additional 80 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new position in Clean Harbors during the 3rd quarter worth $30,000. 90.43% of the stock is currently owned by institutional investors.

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.