Truist Financial Cuts Clean Harbors (NYSE:CLH) Price Target to $270.00

Clean Harbors (NYSE:CLH) had its price objective decreased by Truist Financial from $280.00 to $270.00 in a research report sent to investors on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

CLH has been the subject of several other reports. StockNews.com cut shares of Clean Harbors from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of Clean Harbors from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets lowered their price objective on Clean Harbors from $284.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday. Robert W. Baird reduced their target price on Clean Harbors from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $268.00 price target on shares of Clean Harbors in a report on Thursday. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $270.56.

Clean Harbors Stock Performance

Clean Harbors stock opened at $217.77 on Thursday. Clean Harbors has a twelve month low of $180.24 and a twelve month high of $267.11. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $11.73 billion, a P/E ratio of 29.35 and a beta of 1.24. The stock’s 50 day moving average is $233.16 and its 200 day moving average is $242.11.

Clean Harbors (NYSE:CLH) last released its earnings results on Wednesday, February 19th. The business services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.19. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Clean Harbors had a return on equity of 16.33% and a net margin of 6.83%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. On average, equities research analysts predict that Clean Harbors will post 7.89 earnings per share for the current fiscal year.

Insider Activity at Clean Harbors

In other news, EVP Brian P. Weber sold 861 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $261.31, for a total transaction of $224,987.91. Following the completion of the sale, the executive vice president now owns 59,346 shares of the company’s stock, valued at $15,507,703.26. This represents a 1.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren States sold 308 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $245.06, for a total transaction of $75,478.48. Following the completion of the transaction, the director now owns 12,534 shares in the company, valued at $3,071,582.04. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,785 shares of company stock worth $444,558. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Clean Harbors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA lifted its position in Clean Harbors by 72.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,658,128 shares of the business services provider’s stock valued at $381,602,000 after purchasing an additional 697,630 shares in the last quarter. Norges Bank bought a new position in shares of Clean Harbors in the fourth quarter worth about $136,974,000. Wellington Management Group LLP lifted its position in shares of Clean Harbors by 17.2% during the 4th quarter. Wellington Management Group LLP now owns 4,044,092 shares of the business services provider’s stock valued at $930,707,000 after buying an additional 592,341 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Clean Harbors during the 4th quarter valued at approximately $57,956,000. Finally, FMR LLC increased its holdings in Clean Harbors by 12.0% in the 3rd quarter. FMR LLC now owns 1,747,215 shares of the business services provider’s stock worth $422,319,000 after acquiring an additional 187,140 shares in the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

About Clean Harbors

Clean Harbors, Inc provides environmental and industrial services in the United States and internationally. The company operates through two segments, Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste, such as resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and offers CleanPack services, including collection, identification, categorization, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous waste.