Clean Harbors, Inc. (NYSE:CLH) insider David J. Vergo sold 1,097 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $54.00, for a total transaction of $59,238.00. Following the completion of the transaction, the insider now directly owns 24,156 shares of the company’s stock, valued at $1,304,424. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Clean Harbors, Inc. (NYSE:CLH) opened at $53.34 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 2.19 and a debt-to-equity ratio of 1.44. The stock has a market cap of $3,051.64, a PE ratio of 268.00 and a beta of 1.04. Clean Harbors, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $61.62.
Clean Harbors announced that its Board of Directors has initiated a share buyback plan on Wednesday, November 1st that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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A number of brokerages recently weighed in on CLH. BMO Capital Markets reduced their target price on shares of Clean Harbors from $65.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Barclays PLC raised shares of Clean Harbors from an “underweight” rating to an “equal weight” rating and set a $50.00 price target on the stock in a research report on Monday, August 7th. Canaccord Genuity reissued a “hold” rating and set a $57.00 price target on shares of Clean Harbors in a research report on Wednesday, August 9th. BidaskClub cut shares of Clean Harbors from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $67.00 price target on shares of Clean Harbors in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.00.
Several hedge funds have recently modified their holdings of CLH. Janus Henderson Group PLC bought a new stake in shares of Clean Harbors in the 2nd quarter valued at about $57,925,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Clean Harbors in the 3rd quarter valued at about $23,785,000. Goldman Sachs Group Inc. raised its holdings in shares of Clean Harbors by 39.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 478,318 shares of the business services provider’s stock valued at $26,705,000 after purchasing an additional 134,263 shares during the period. Marathon Asset Management LLP raised its holdings in shares of Clean Harbors by 21.3% in the 2nd quarter. Marathon Asset Management LLP now owns 593,138 shares of the business services provider’s stock valued at $33,113,000 after purchasing an additional 104,202 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Clean Harbors by 139.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 138,456 shares of the business services provider’s stock valued at $7,730,000 after purchasing an additional 80,595 shares during the period. 93.98% of the stock is currently owned by institutional investors.
About Clean Harbors
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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