Clean Harbors (NYSE:CLH) Reaches New 12-Month High - Time to Buy?

Clean Harbors, Inc. (NYSE:CLH - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $267.11 and last traded at $262.93, with a volume of 29843 shares trading hands. The stock had previously closed at $256.52.

Wall Street Analysts Forecast Growth

CLH has been the subject of a number of analyst reports. Needham & Company LLC lifted their price target on Clean Harbors from $235.00 to $274.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Truist Financial lifted their price target on Clean Harbors from $240.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 11th. Robert W. Baird lifted their price target on Clean Harbors from $242.00 to $268.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Oppenheimer lifted their price target on Clean Harbors from $252.00 to $270.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Finally, The Goldman Sachs Group lifted their price target on Clean Harbors from $223.00 to $256.00 and gave the company a "neutral" rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $250.89.

Clean Harbors Price Performance

The business has a 50 day moving average price of $246.51 and a two-hundred day moving average price of $228.47. The stock has a market cap of $14.20 billion, a PE ratio of 37.12 and a beta of 1.20. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.76 and a current ratio of 2.10.

Clean Harbors (NYSE:CLH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.25. The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.53 billion. Clean Harbors had a net margin of 6.97% and a return on equity of 17.12%. Clean Harbors's revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. Research analysts expect that Clean Harbors, Inc. will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Louis Battles sold 10,000 shares of Clean Harbors stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $245.74, for a total value of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares of the company's stock, valued at approximately $18,955,400.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Clean Harbors news, CEO Michael Louis Battles sold 10,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $245.74, for a total transaction of $2,457,400.00. Following the sale, the chief executive officer now owns 77,136 shares of the company's stock, valued at $18,955,400.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lauren States sold 308 shares of the business's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $260.74, for a total transaction of $80,307.92. Following the sale, the director now directly owns 13,150 shares in the company, valued at $3,428,731. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,617 shares of company stock valued at $2,613,132. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

A number of hedge funds and other institutional investors have recently bought and sold shares of CLH. Moody National Bank Trust Division increased its holdings in shares of Clean Harbors by 1.0% in the second quarter. Moody National Bank Trust Division now owns 4,843 shares of the business services provider's stock worth $1,095,000 after purchasing an additional 47 shares during the period. Quent Capital LLC grew its position in Clean Harbors by 6.9% in the second quarter. Quent Capital LLC now owns 725 shares of the business services provider's stock worth $164,000 after acquiring an additional 47 shares in the last quarter. Fifth Third Bancorp grew its position in Clean Harbors by 10.5% in the second quarter. Fifth Third Bancorp now owns 528 shares of the business services provider's stock worth $119,000 after acquiring an additional 50 shares in the last quarter. MJP Associates Inc. ADV grew its position in Clean Harbors by 1.1% in the second quarter. MJP Associates Inc. ADV now owns 4,734 shares of the business services provider's stock worth $1,071,000 after acquiring an additional 51 shares in the last quarter. Finally, Signaturefd LLC grew its position in Clean Harbors by 11.8% in the third quarter. Signaturefd LLC now owns 491 shares of the business services provider's stock worth $119,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 90.43% of the company's stock.

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.