Clean Harbors (NYSE:CLH) Sets New 52-Week High After Earnings Beat

Clean Harbors, Inc. (NYSE:CLH)’s share price reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $335.94 and last traded at $327.4410, with a volume of 75833 shares traded. The stock had previously closed at $303.67.

The business services provider reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.41. Clean Harbors had a return on equity of 14.37% and a net margin of 6.53%.The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company posted $2.36 earnings per share. Clean Harbors’s revenue was up 11.9% compared to the same quarter last year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Clean Harbors from $300.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Wells Fargo & Company boosted their price target on shares of Clean Harbors from $309.00 to $313.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Needham & Company LLC upped their price objective on shares of Clean Harbors from $308.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Robert W. Baird increased their price objective on shares of Clean Harbors from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Clean Harbors from $268.00 to $306.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $330.21.

Insiders Place Their Bets

In other Clean Harbors news, Director Lauren States sold 789 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $286.19, for a total value of $225,803.91. Following the transaction, the director directly owned 11,359 shares in the company, valued at $3,250,832.21. The trade was a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clean Harbors

Hedge funds have recently modified their holdings of the stock. Assetmark Inc. lifted its stake in Clean Harbors by 8.9% in the first quarter. Assetmark Inc. now owns 430 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 35 shares during the last quarter. NewEdge Advisors LLC increased its position in Clean Harbors by 2.6% in the first quarter. NewEdge Advisors LLC now owns 1,995 shares of the business services provider’s stock worth $572,000 after buying an additional 50 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Clean Harbors by 2.3% in the second quarter. SkyView Investment Advisors LLC now owns 2,378 shares of the business services provider’s stock valued at $549,000 after buying an additional 53 shares during the period. US Bancorp DE raised its stake in shares of Clean Harbors by 16.9% in the third quarter. US Bancorp DE now owns 374 shares of the business services provider’s stock valued at $87,000 after buying an additional 54 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Clean Harbors by 2.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,121 shares of the business services provider’s stock valued at $608,000 after buying an additional 59 shares during the last quarter. Institutional investors own 90.43% of the company’s stock.

Clean Harbors Price Performance

The company has a current ratio of 2.34, a quick ratio of 1.99 and a debt-to-equity ratio of 0.99. The stock has a market cap of $17.33 billion, a PE ratio of 44.43 and a beta of 0.86. The business has a 50-day moving average price of $293.69 and a 200 day moving average price of $287.51.

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.