Clean Harbors Upgraded to “Outperform” at Oppenheimer (CLH)

Clean Harbors (NYSE: CLH) was upgraded by Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued on Monday, reports. The firm currently has a $72.00 price target on the stock.

The analysts wrote, “We recently hosted a series of meetings with CFO Jim Rutledge and Safety-Kleen President Bob Craycraft, and discussed trends and strategies around CLH’s multiple end markets. We came away incrementally positive on CLH/SK revenue synergy opportunities, strong demand trends and strong market position in Tech Services providing M/HSD organic growth, and LDD organic growth prospects in Industrial Services. Further, we believe SK’s long-term fundamentals are attractive, and with Group II base oil spreads potentially bottoming, we view our previous estimates for the segment as too low. We’ve raised our ’14E outlook (predominantly SK), and believe shares are poised for outperformance as CLH/SK synergies manifest and risks within OGFS are less meaningful to overall results going forward.”

CLH has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Clean Harbors from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, March 8th. They now have a $59.70 price target on the stock. Separately, analysts at Robert W. Baird upgraded shares of Clean Harbors from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, March 7th. They now have a $61.00 price target on the stock, up previously from $59.00. They noted that the move was a valuation call. Finally, analysts at Credit Suisse initiated coverage on shares of Clean Harbors in a research note to investors on Thursday, February 21st. They set an “outperform” rating on the stock.

Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $67.71.

Clean Harbors (NYSE: CLH) traded up 2.38% on Monday, hitting $59.47. Clean Harbors has a 1-year low of $46.94 and a 1-year high of $69.25. The stock’s 50-day moving average is currently $54.07. The company has a market cap of $3.597 billion and a price-to-earnings ratio of 24.20.

Clean Harbors (NYSE: CLH) last announced its earnings results on Wednesday, February 20th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.70. The company had revenue of $559.00 million for the quarter, compared to the consensus estimate of $536.78 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts predict that Clean Harbors will post $2.67 earnings per share for the current fiscal year.

Clean Harbors, Inc. (NYSE: CLH) is a provider of environmental, energy and industrial services throughout North America.

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