Clean Harbors, Inc. (NYSE:CLH) Sees Significant Growth in Short Interest

Clean Harbors, Inc. (NYSE:CLH - Get Free Report) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 585,100 shares, an increase of 16.9% from the February 13th total of 500,300 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 427,100 shares, the short-interest ratio is currently 1.4 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on CLH. Truist Financial dropped their price target on shares of Clean Harbors from $280.00 to $270.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of Clean Harbors from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. StockNews.com raised shares of Clean Harbors from a "hold" rating to a "buy" rating in a research note on Wednesday. The Goldman Sachs Group dropped their price target on shares of Clean Harbors from $250.00 to $220.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and set a $268.00 price target on shares of Clean Harbors in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $266.56.

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Insiders Place Their Bets

In other Clean Harbors news, CFO Eric J. Dugas purchased 1,050 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $191.38 per share, with a total value of $200,949.00. Following the completion of the purchase, the chief financial officer now directly owns 24,238 shares in the company, valued at approximately $4,638,668.44. This represents a 4.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Speights sold 2,725 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $190.44, for a total transaction of $518,949.00. Following the sale, the insider now directly owns 40,008 shares of the company's stock, valued at approximately $7,619,123.52. This trade represents a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,341 shares of company stock valued at $663,041. Insiders own 5.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Reliant Investment Management LLC acquired a new position in shares of Clean Harbors in the fourth quarter valued at approximately $4,386,000. Fiduciary Alliance LLC acquired a new position in shares of Clean Harbors in the fourth quarter valued at approximately $846,000. Mountain Pacific Investment Advisers LLC boosted its holdings in shares of Clean Harbors by 4.5% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 99,039 shares of the business services provider's stock valued at $22,793,000 after buying an additional 4,240 shares during the period. Barclays PLC boosted its holdings in shares of Clean Harbors by 44.5% in the third quarter. Barclays PLC now owns 28,056 shares of the business services provider's stock valued at $6,781,000 after buying an additional 8,639 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new position in shares of Clean Harbors in the third quarter valued at approximately $1,692,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Trading Down 0.7 %

NYSE CLH traded down $1.47 during trading on Friday, reaching $196.43. 509,399 shares of the stock traded hands, compared to its average volume of 317,378. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 26.47 and a beta of 1.22. The stock's 50-day moving average price is $220.56 and its 200 day moving average price is $236.68. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. Clean Harbors has a fifty-two week low of $186.54 and a fifty-two week high of $267.11.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The business services provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.19. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.43 billion. Clean Harbors had a net margin of 6.83% and a return on equity of 16.33%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Analysts predict that Clean Harbors will post 7.89 EPS for the current year.

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.