Clean Harbors (CLH) Given Hold Rating at Canaccord Genuity
Clean Harbors (NYSE:CLH)‘s stock had its “hold” rating restated by Canaccord Genuity in a research note issued on Thursday. They currently have a $57.00 price objective on the business services provider’s stock. Canaccord Genuity’s price target indicates a potential upside of 4.36% from the stock’s previous close.
The analysts wrote, “We are lowering our 2018 EBITDA estimate to reflect anticipated conservatism and reiterate a HOLD rating and $57 price target. Investment highlights We remain positive on macro drivers and beneficial market trends for each of CLH’s businesses and believe that the company is poised for a rebound year in 2018. Nevertheless, optics of below-consensus guidance could make the stock range-bound in the near term.””
Several other research analysts also recently weighed in on CLH. KeyCorp reiterated a “hold” rating on shares of Clean Harbors in a research report on Wednesday, November 1st. Oppenheimer decreased their price target on shares of Clean Harbors from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Raymond James Financial upgraded shares of Clean Harbors from an “underperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. UBS Group upgraded shares of Clean Harbors from an “underperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of Clean Harbors from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $61.00.
Clean Harbors (NYSE:CLH) last released its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). Clean Harbors had a return on equity of 1.05% and a net margin of 0.13%. research analysts expect that Clean Harbors will post 0.31 earnings per share for the current year.
In other news, SVP Eric J. Dugas sold 1,139 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $53.26, for a total transaction of $60,663.14. Following the sale, the senior vice president now directly owns 13,777 shares in the company, valued at approximately $733,763.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David J. Vergo sold 1,097 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $54.00, for a total transaction of $59,238.00. Following the sale, the insider now owns 24,156 shares in the company, valued at $1,304,424. The disclosure for this sale can be found here. Insiders have sold a total of 11,581 shares of company stock worth $613,418 over the last 90 days. Insiders own 8.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Clean Harbors by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,081 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 188 shares during the period. Zions Bancorporation bought a new stake in shares of Clean Harbors during the 3rd quarter valued at $189,000. Balyasny Asset Management LLC bought a new stake in shares of Clean Harbors during the 2nd quarter valued at $203,000. Stifel Financial Corp bought a new stake in shares of Clean Harbors during the 3rd quarter valued at $211,000. Finally, Shelton Capital Management bought a new stake in shares of Clean Harbors during the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 92.58% of the company’s stock.
Clean Harbors Company Profile
Clean Harbors, Inc is a provider of environmental, energy and industrial services throughout North America. The Company is also a re-refiner and recycler of used oil in the world and a provider of parts cleaning and related environmental services to commercial, industrial and automotive customers in North America.
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