Clean Harbors (NYSE:CLH) Shares Up 2.8%

Clean Harbors Inc (NYSE:CLH) shares shot up 2.8% during mid-day trading on Wednesday . The stock traded as high as $46.20 and last traded at $47.37, 18,718 shares traded hands during trading. A decline of 98% from the average session volume of 826,469 shares. The stock had previously closed at $46.10.

Several research firms have recently issued reports on CLH. Stifel Nicolaus reduced their target price on Clean Harbors from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Robert W. Baird reissued a “buy” rating on shares of Clean Harbors in a research note on Monday, March 2nd. Goldman Sachs Group reissued a “neutral” rating and set a $89.00 target price on shares of Clean Harbors in a research note on Friday, February 28th. Finally, Jefferies Financial Group began coverage on Clean Harbors in a research note on Wednesday, November 27th. They set an “underperform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $85.11.

The company has a quick ratio of 1.65, a current ratio of 1.95 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $2.57 billion, a P/E ratio of 29.71 and a beta of 1.61. The company has a 50-day moving average of $68.29 and a two-hundred day moving average of $78.07.

Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.04). Clean Harbors had a net margin of 2.86% and a return on equity of 8.67%. The firm had revenue of $871.00 million for the quarter, compared to the consensus estimate of $878.84 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that Clean Harbors Inc will post 2.18 EPS for the current fiscal year.

In other news, EVP Robert Speights purchased 1,275 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were bought at an average cost of $39.15 per share, for a total transaction of $49,916.25. Following the completion of the transaction, the executive vice president now directly owns 16,338 shares of the company’s stock, valued at approximately $639,632.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 2,461 shares of company stock worth $99,969 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CLH. Norges Bank bought a new stake in Clean Harbors in the fourth quarter worth $46,957,000. Pictet Asset Management Ltd. bought a new stake in Clean Harbors in the third quarter worth $38,898,000. Scopus Asset Management L.P. boosted its holdings in Clean Harbors by 158.0% in the fourth quarter. Scopus Asset Management L.P. now owns 361,155 shares of the business services provider’s stock worth $30,969,000 after acquiring an additional 221,155 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Clean Harbors in the fourth quarter worth $13,050,000. Finally, FIL Ltd boosted its holdings in Clean Harbors by 53.1% in the fourth quarter. FIL Ltd now owns 391,411 shares of the business services provider’s stock worth $33,563,000 after acquiring an additional 135,730 shares in the last quarter. 91.09% of the stock is currently owned by institutional investors and hedge funds.

About Clean Harbors (NYSE:CLH)

Clean Harbors, Inc provides environmental, energy, and industrial services in North America. The company operates through two segments, Environmental Services and Safety-Kleen. The Environmental Services segment collects, transports, treats, and disposes hazardous and non-hazardous waste that include resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemicals disposal, and explosives management services; and CleanPack, a service to collect, identify, categorize, specialized packaging, transportation, and disposal of laboratory chemicals and household hazardous wastes.

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