UBS assumed coverage on shares of Clean Harbors (NYSE:CLH) in a research note published on Wednesday, March 14th, www.benzinga.com reports. The brokerage issued a sell rating and a $49.00 price objective on the business services provider’s stock.
A number of other research firms have also recently weighed in on CLH. Zacks Investment Research cut shares of Clean Harbors from a hold rating to a sell rating in a research note on Monday, March 5th. Robert W. Baird reissued a hold rating and issued a $57.00 price objective on shares of Clean Harbors in a research note on Thursday, March 1st. Canaccord Genuity cut their price target on shares of Clean Harbors from $57.00 to $54.00 and set a hold rating on the stock in a research report on Thursday, March 1st. BMO Capital Markets reiterated an outperform rating and set a $60.00 price objective (down previously from $61.00) on shares of Clean Harbors in a report on Thursday, March 1st. Finally, Oppenheimer lowered shares of Clean Harbors from a market perform rating to an outperform rating and set a $62.00 price objective on the stock. in a report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $58.80.
Clean Harbors stock traded down $0.96 during midday trading on Wednesday, reaching $48.38. 336,518 shares of the company’s stock were exchanged, compared to its average volume of 343,456. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.94 and a current ratio of 2.29. The stock has a market capitalization of $2,749.05, a P/E ratio of 147.11 and a beta of 1.01. Clean Harbors has a 52 week low of $46.62 and a 52 week high of $61.62.
Clean Harbors (NYSE:CLH) last issued its quarterly earnings data on Wednesday, February 28th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.13). Clean Harbors had a return on equity of 1.36% and a net margin of 3.42%. The company had revenue of $747.40 million for the quarter, compared to analyst estimates of $720.50 million. During the same quarter last year, the business earned ($0.06) earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. research analysts forecast that Clean Harbors will post 0.71 earnings per share for the current year.
In related news, insider Alan S. Mckim sold 42,666 shares of the business’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $51.45, for a total transaction of $2,195,165.70. Following the sale, the insider now owns 4,056,609 shares of the company’s stock, valued at $208,712,533.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John T. Preston sold 5,000 shares of Clean Harbors stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $50.93, for a total transaction of $254,650.00. Following the completion of the transaction, the director now directly owns 9,427 shares of the company’s stock, valued at $480,117.11. The disclosure for this sale can be found here. In the last three months, insiders sold 48,369 shares of company stock worth $2,483,293. Insiders own 8.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Colonial Trust Advisors grew its position in Clean Harbors by 6.7% during the fourth quarter. Colonial Trust Advisors now owns 21,803 shares of the business services provider’s stock valued at $1,182,000 after buying an additional 1,366 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of Clean Harbors in the fourth quarter worth approximately $342,000. MetLife Investment Advisors LLC bought a new position in shares of Clean Harbors in the fourth quarter worth approximately $1,777,000. Gotham Asset Management LLC boosted its position in shares of Clean Harbors by 43.0% in the fourth quarter. Gotham Asset Management LLC now owns 13,396 shares of the business services provider’s stock worth $726,000 after purchasing an additional 4,026 shares during the period. Finally, Macquarie Group Ltd. bought a new position in shares of Clean Harbors in the fourth quarter worth approximately $500,000. Institutional investors own 93.64% of the company’s stock.
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About Clean Harbors
Clean Harbors, Inc provides environmental, energy, and industrial services in North America. It operates through Technical Services; Industrial and Field Services; Safety-Kleen; and Oil, Gas and Lodging Services segments. The company's Technical Services segment provides a range of hazardous material management services, including the packaging, collection, transportation, treatment, and disposal of hazardous and non-hazardous waste at its incinerator, landfill, wastewater, and other treatment facilities.
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