Clean Harbors, Inc. (NYSE:CLH) Short Interest Up 29.3% in October

Clean Harbors, Inc. (NYSE:CLH - Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 522,600 shares, a growth of 29.3% from the October 15th total of 404,300 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 256,000 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC cut their price objective on Clean Harbors from $274.00 to $268.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. Truist Financial raised their price target on Clean Harbors from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Robert W. Baird dropped their price target on Clean Harbors from $300.00 to $285.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Oppenheimer raised their price target on Clean Harbors from $252.00 to $270.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group raised their price target on Clean Harbors from $223.00 to $256.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $254.33.

Insider Activity

In related news, Director Lauren States sold 308 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $260.74, for a total transaction of $80,307.92. Following the completion of the sale, the director now directly owns 13,150 shares of the company's stock, valued at $3,428,731. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Louis Battles sold 10,000 shares of the stock in a transaction on Monday, September 16th. The stock was 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 directly owns 77,136 shares of the company's stock, valued at approximately $18,955,400.64. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,227 shares of company stock valued at $2,759,617. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clean Harbors

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in shares of Clean Harbors in the 2nd quarter valued at approximately $25,000. UMB Bank n.a. increased its holdings in shares of Clean Harbors by 63.4% in the 3rd quarter. UMB Bank n.a. now owns 214 shares of the business services provider's stock valued at $52,000 after acquiring an additional 83 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Clean Harbors during the 2nd quarter valued at approximately $56,000. Prospera Private Wealth LLC acquired a new position in Clean Harbors during the 3rd quarter valued at approximately $56,000. Finally, CENTRAL TRUST Co boosted its position in Clean Harbors by 161.6% during the 3rd quarter. CENTRAL TRUST Co now owns 259 shares of the business services provider's stock valued at $63,000 after purchasing an additional 160 shares during the period. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Clean Harbors Trading Down 1.3 %

Shares of NYSE CLH traded down $3.29 during midday trading on Friday, hitting $247.27. The stock had a trading volume of 278,244 shares, compared to its average volume of 297,652. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 32.20 and a beta of 1.20. Clean Harbors has a 1-year low of $158.42 and a 1-year high of $267.11. The company has a quick ratio of 1.76, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The company has a fifty day moving average price of $249.02 and a 200 day moving average price of $233.39.

Clean Harbors (NYSE:CLH - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.03). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. Clean Harbors had a net margin of 7.19% and a return on equity of 17.51%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. On average, analysts predict that Clean Harbors will post 7.29 earnings per share for the current year.

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.