Clean Harbors (NYSE:CLH) Trading Down 9.6% – What’s Next?

Clean Harbors, Inc. (NYSE:CLH) shares fell 9.6% on Wednesday . The stock traded as low as $283.62 and last traded at $283.6820. 118,819 shares were traded during mid-day trading, a decline of 76% from the average session volume of 488,499 shares. The stock had previously closed at $313.70.

Clean Harbors News Summary

Here are the key news stories impacting Clean Harbors this week:

• Positive Sentiment: Clean Harbors raised its full-year guidance after reporting margin strength, signaling management sees better profitability ahead. Clean Harbors Lifts Guidance On Margin Strength
• Positive Sentiment: The company beat profit expectations in Q1 and raised its full-year outlook, which typically supports investor confidence in future earnings power. Clean Harbors beats profit view, raises full-year outlook
• Positive Sentiment: Several analysts turned more constructive after results, including Wells Fargo, Oppenheimer, and Needham, all of which lifted price targets and reinforced a bullish long-term view. Analysts Boost Their Forecasts On Clean Harbors After Q1 Results

Analyst Upgrades and Downgrades

CLH has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the company an “equal weight” rating in a report on Thursday. Oppenheimer lifted their price target on shares of Clean Harbors from $310.00 to $316.00 and gave the company an “outperform” rating in a report on Thursday. BMO Capital Markets lifted their price target on shares of Clean Harbors from $290.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Barclays lifted their price target on shares of Clean Harbors from $230.00 to $280.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Finally, Weiss Ratings lowered shares of Clean Harbors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $318.83.

Clean Harbors Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.00 and a current ratio of 2.34. The business’s 50 day simple moving average is $294.75 and its 200-day simple moving average is $260.80. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 39.49 and a beta of 0.92.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Clean Harbors had a net margin of 6.53% and a return on equity of 14.37%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm earned $1.09 EPS. Clean Harbors’s revenue was up 1.9% on a year-over-year basis. Research analysts anticipate that Clean Harbors, Inc. will post 8.25 earnings per share for the current year.

Insider Activity at Clean Harbors

In other Clean Harbors news, EVP Sharon M. Gabriel sold 3,540 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $282.07, for a total transaction of $998,527.80. Following the sale, the executive vice president directly owned 23,193 shares in the company, valued at approximately $6,542,049.51. The trade was a 13.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcy L. Reed sold 836 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $287.94, for a total transaction of $240,717.84. Following the sale, the director owned 5,081 shares in the company, valued at $1,463,023.14. This trade represents a 14.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,597 shares of company stock worth $3,895,286 in the last three months. Insiders own 5.00% of the company’s stock.

Institutional Trading of Clean Harbors

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in shares of Clean Harbors by 10.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,376,088 shares of the business services provider’s stock worth $557,146,000 after purchasing an additional 215,659 shares in the last quarter. State Street Corp raised its holdings in shares of Clean Harbors by 0.8% in the 3rd quarter. State Street Corp now owns 1,515,621 shares of the business services provider’s stock worth $351,958,000 after purchasing an additional 12,452 shares in the last quarter. Snyder Capital Management L P raised its holdings in shares of Clean Harbors by 7.9% in the 3rd quarter. Snyder Capital Management L P now owns 1,148,504 shares of the business services provider’s stock worth $266,706,000 after purchasing an additional 83,638 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Clean Harbors by 8.6% in the 3rd quarter. Bessemer Group Inc. now owns 1,097,702 shares of the business services provider’s stock worth $254,908,000 after purchasing an additional 87,322 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Clean Harbors by 120.8% in the 4th quarter. Nordea Investment Management AB now owns 1,040,594 shares of the business services provider’s stock worth $246,725,000 after purchasing an additional 569,388 shares in the last quarter. 90.43% of the stock is currently owned by institutional investors.

Clean Harbors Company Profile

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.