Clean Harbors (NYSE:CLH) Reaches New 52-Week Low - Here's What Happened

Shares of Clean Harbors, Inc. (NYSE:CLH - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $184.52 and last traded at $189.54, with a volume of 94154 shares traded. The stock had previously closed at $198.51.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CLH shares. StockNews.com lowered shares of Clean Harbors from a "buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Truist Financial decreased their price objective on shares of Clean Harbors from $280.00 to $270.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Stifel Nicolaus dropped their target price on shares of Clean Harbors from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. The Goldman Sachs Group decreased 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, March 19th. Finally, Oppenheimer reduced their price objective on Clean Harbors from $256.00 to $254.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Clean Harbors currently has an average rating of "Moderate Buy" and a consensus price target of $266.56.

Clean Harbors Trading Up 8.5 %

The firm has a market capitalization of $10.64 billion, a PE ratio of 26.64 and a beta of 1.11. The company has a quick ratio of 1.76, a current ratio of 2.21 and a debt-to-equity ratio of 1.08. The company's 50-day simple moving average is $207.74 and its 200 day simple moving average is $231.98.

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

Insider Buying and Selling

In related news, CFO Eric J. Dugas bought 1,050 shares of the company's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $191.38 per share, with a total value of $200,949.00. Following the transaction, the chief financial officer now owns 24,238 shares in the company, valued at approximately $4,638,668.44. This trade represents a 4.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Speights sold 2,725 shares of the business's stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at $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. Insiders have sold a total of 3,341 shares of company stock worth $663,041 in the last ninety days. 5.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Clean Harbors

A number of institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC lifted its position in Clean Harbors by 12.6% during the third quarter. HighTower Advisors LLC now owns 7,983 shares of the business services provider's stock valued at $1,923,000 after purchasing an additional 891 shares during the period. Integrated Wealth Concepts LLC raised its position in Clean Harbors by 8.1% during the third quarter. Integrated Wealth Concepts LLC now owns 1,052 shares of the business services provider's stock valued at $254,000 after acquiring an additional 79 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Clean Harbors during the 3rd quarter worth approximately $340,000. State Street Corp increased its holdings in shares of Clean Harbors by 1.5% during the 3rd quarter. State Street Corp now owns 1,510,363 shares of the business services provider's stock valued at $365,070,000 after purchasing an additional 21,662 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Clean Harbors in the 3rd quarter valued at $305,000. Institutional investors and hedge funds own 90.43% of the company's stock.

Clean Harbors Company Profile

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.