Goldman Sachs Lowers Clean Harbors Stock Price Expectations

Clean Harbors (NYSE:CLH) has seen a shift in its price target, according to a recent report from The Goldman Sachs Group. The investment firm has revised its price objective for Clean Harbors from $250.00 to $220.00. This change reflects a cautious approach towards the company's stock, leading Goldman Sachs to assign a "neutral" rating to Clean Harbors. The updated price target indicates that there is a potential for a 12.78% increase based on the stock's last closing price.

In addition to Goldman Sachs, other analysts have provided insights into Clean Harbors' performance. StockNews.com has recently upgraded Clean Harbors from a "hold" to a "buy" rating. Meanwhile, BMO Capital Markets also lowered their price target from $284.00 to $270.00, maintaining an "outperform" rating. On the other hand, TD Cowen began coverage on Clean Harbors with a "buy" rating and a much higher target price of $325.00. Stifel Nicolaus adjusted their target slightly from $290.00 to $285.00, while Needham & Company LLC confirmed a "buy" status with a price objective of $268.00.

An overview of the consensus among analysts shows that one analyst has rated Clean Harbors as a hold, while eight have given it a buy rating and one has assigned a strong buy rating. As per data from MarketBeat.com, Clean Harbors is maintaining a consensus rating of "Buy" with a target price consensus of $266.56.

Current Stock Performance

As of Wednesday, Clean Harbors shares opened at $195.08. The stock has a 50-day moving average of $222.52 and a 200-day moving average of $237.58. Over the past year, the stock's value has fluctuated, hitting a low of $186.54 and a high of $267.11. Clean Harbors has a market capitalization of $10.51 billion and a price-to-earnings (P/E) ratio of 26.29. With a current ratio of 2.21 and a quick ratio of 1.76, the company appears to be in reasonable financial shape, although its debt-to-equity ratio stands at 1.08.

On February 19, Clean Harbors reported its quarterly earnings, revealing earnings per share (EPS) of $1.55, surpassing analysts' expectations of $1.36 by a notable $0.19. The revenue for the quarter totaled $1.43 billion, aligning with what analysts had expected. The company's net margin for the quarter was reported at 6.83%, with a return on equity of 16.33%. Compared to the previous year, Clean Harbors has seen its revenue grow by 6.9%.

Insider Transactions and Institutional Holdings

In related news, CFO Eric J. Dugas recently bought 1,050 shares at an average price of $191.38, totaling approximately $200,949. Following this purchase, he now holds 24,238 shares valued at about $4.64 million, reflecting an increase in his ownership. Conversely, insider Robert Speights sold 2,725 shares for an average price of $190.44, resulting in a total transaction of $518,949. After this sale, he owns about 40,008 shares with an estimated value of $7.62 million. Within the last quarter, insiders have sold a collective 3,341 shares valued at $663,041, with corporate insiders currently holding 5.90% of shares.

Institutional investors continue to play a significant role in Clean Harbors' stock. Recently, various hedge funds have adjusted their positions, including PKO Investment Management which acquired a new stake valued at $3.45 million in the fourth quarter. Other investors such as Park Square Financial Group and Carolinas Wealth Consulting have also increased their holdings, with institutional shareholders currently owning about 90.43% of the company's stock.

Overview of Clean Harbors

Clean Harbors, Inc. specializes in providing environmental and industrial services both in the United States and internationally. The company operates through two primary segments: Environmental Services and Safety-Kleen Sustainability Solutions. The Environmental Services segment focuses on the collection, transportation, treatment, and disposal of both hazardous and non-hazardous waste. This includes resource recovery, fuel blending, incineration, and landfill disposal, along with specialized services like CleanPack, which addresses laboratory chemicals and household hazardous waste.

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