Wells Fargo & Company Issues Positive Forecast for Clean Harbors (NYSE:CLH) Stock Price

Clean Harbors (NYSE:CLH) had its target price upped by research analysts at Wells Fargo & Company from $291.00 to $309.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.45% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Clean Harbors in a research report on Monday, December 29th. TD Cowen reissued a “buy” rating on shares of Clean Harbors in a research report on Thursday, February 19th. Raymond James Financial reiterated a “strong-buy” rating and set a $320.00 target price on shares of Clean Harbors in a research note on Monday, February 23rd. Zacks Research upgraded shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 13th. Finally, Oppenheimer upped their price target on shares of Clean Harbors from $283.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Clean Harbors Stock Performance

NYSE:CLH opened at $290.28 on Wednesday. The firm has a market capitalization of $15.36 billion, a PE ratio of 39.87 and a beta of 0.92. Clean Harbors has a 1 year low of $178.29 and a 1 year high of $298.12. The company has a current ratio of 2.33, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm’s fifty day simple moving average is $272.19 and its 200 day simple moving average is $245.56.

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

Insider Activity

In other news, CFO Eric J. Dugas sold 2,788 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $281.31, for a total transaction of $784,292.28. Following the completion of the transaction, the chief financial officer directly owned 15,933 shares of the company’s stock, valued at approximately $4,482,112.23. This represents a 14.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian P. Weber sold 4,683 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $293.39, for a total value of $1,373,945.37. Following the completion of the sale, the executive vice president directly owned 48,728 shares in the company, valued at $14,296,307.92. The trade was a 8.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,761 shares of company stock worth $3,361,568 over the last ninety days. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Clean Harbors

Several hedge funds have recently made changes to their positions in CLH. Integrated Wealth Concepts LLC raised its holdings in Clean Harbors by 102.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,187 shares of the business services provider’s stock worth $431,000 after purchasing an additional 1,109 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Clean Harbors by 47.7% in the first quarter. Jones Financial Companies Lllp now owns 607 shares of the business services provider’s stock worth $120,000 after buying an additional 196 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Clean Harbors by 12.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 54,577 shares of the business services provider’s stock valued at $10,757,000 after buying an additional 5,884 shares in the last quarter. Savant Capital LLC purchased a new stake in Clean Harbors in the 2nd quarter worth approximately $214,000. Finally, ProShare Advisors LLC lifted its holdings in Clean Harbors by 3.5% during the second quarter. ProShare Advisors LLC now owns 2,233 shares of the business services provider’s stock valued at $516,000 after purchasing an additional 75 shares in the last quarter. 90.43% of the stock is owned by hedge funds and other 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.