Oppenheimer Holdings, Inc. Lowers Clean Harbors, Inc. (CLH) Price Target to $62.00
Clean Harbors, Inc. (NYSE:CLH) had its target price reduced by Oppenheimer Holdings, Inc. from $67.00 to $62.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the business services provider’s stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 16.45% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets decreased their target price on Clean Harbors from $65.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday. Raymond James Financial, Inc. raised Clean Harbors from an “underperform” rating to a “market perform” rating in a research report on Thursday. UBS AG raised Clean Harbors from an “underperform” rating to a “market perform” rating in a research report on Thursday. KeyCorp reaffirmed a “hold” rating on shares of Clean Harbors in a report on Wednesday. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $57.00 price objective on shares of Clean Harbors in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.00.
Clean Harbors (NYSE CLH) traded down $0.18 during mid-day trading on Thursday, reaching $53.24. The company had a trading volume of 347,192 shares, compared to its average volume of 286,639. Clean Harbors has a fifty-two week low of $43.13 and a fifty-two week high of $61.62. The firm has a market capitalization of $3,031.11, a P/E ratio of 266.20 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.72 and a debt-to-equity ratio of 1.44.
Clean Harbors declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 1st that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, COO Eric W. Gerstenberg sold 4,667 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $50.42, for a total value of $235,310.14. Following the transaction, the chief operating officer now directly owns 91,950 shares of the company’s stock, valued at approximately $4,636,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric J. Dugas sold 933 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $54.67, for a total value of $51,007.11. Following the completion of the transaction, the senior vice president now directly owns 14,766 shares in the company, valued at $807,257.22. The disclosure for this sale can be found here. Insiders sold a total of 6,090 shares of company stock worth $313,845 over the last three months. 8.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in shares of Clean Harbors by 5.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 146,049 shares of the business services provider’s stock worth $8,281,000 after acquiring an additional 7,593 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of Clean Harbors in the 3rd quarter worth approximately $325,000. Crossmark Global Holdings Inc. acquired a new position in shares of Clean Harbors in the 3rd quarter worth approximately $304,000. Fox Run Management L.L.C. boosted its holdings in shares of Clean Harbors by 117.0% in the 3rd quarter. Fox Run Management L.L.C. now owns 10,200 shares of the business services provider’s stock worth $578,000 after acquiring an additional 5,500 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Clean Harbors in the 3rd quarter worth approximately $282,000. 94.14% of the stock is currently owned by institutional investors and hedge funds.
About Clean Harbors
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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