- Clean Harbors (CLH) is up more than 45% over the past year.
- Shares are trading at new all-time highs and have robust technical momentum.
- CLH maintains a 100% “Buy” Barchart opinion.
- Analyst sentiment is bullish with price targets up to $412, although Morningstar sees CLH as 9% overvalued at current levels.
Today’s Featured Stock
Valued at $15.72 billion, Clean Harbors (CLH) is a leading provider of environmental, energy, and industrial services in North America. It operates the largest number of hazardous waste incinerators, landfills and treatment, storage and disposal facilities.
Clean Harbors provides a broad range of services such as end-to-end hazardous waste management, emergency response, industrial cleaning and maintenance, and recycling services. The company is also the largest re-refiner and recycler of used oil globally and the leading provider of parts washers and environmental services to commercial, industrial and automotive customers in North America.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. CLH checks those boxes. Since the Trend Seeker issued a new “Buy” on Dec. 2, shares are up 22.85%.
Barchart Technical Indicators for Clean Harbors
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
Clean Harbors scored an all-time high of $298.12 on March 3.
- Clean Harbors has a Weighted Alpha of +53.61.
- CLH has an 100% “Buy” opinion from Barchart.
- The stock has gained 45.69% over the past 52 weeks.
- Clean Harbors has its Trend Seeker “Buy” signal intact.
- The stock recently traded at $293.89 with a 50-day moving average of $262.48.
- CLH has made 11 new highs and is up 12.38% over the past month.
- Relative Strength Index (RSI) is at 70.84.
- There’s a technical support level around $290.11.
Don’t Forget the Fundamentals
- $15.72 billion market capitalization.
- 40.8x trailing price-earnings ratio.
- Revenue is expected to grow 3.14% this year and another 4.54% next year.
- Earnings are estimated to increase 11.53% this year and an additional 13.04% next year.
Analyst and Investor Sentiment on Clean Harbors
- The Wall Street analysts followed by Barchart gave the stock 7 “Strong Buy,” 1 “Moderate Buy,” and 6 “Hold” opinions with price targets between $240 and $320.
- Value Line rates the stock “Highest” with price targets between $221 and $412 with a midpoint of $316.
- CFRA’s MarketScope rates the stock a “Buy” with a price target of $315.
- Morningstar thinks the stock is 9% overvalued with a fair value of $270.56.
- 798 investors following the stock on Motley Fool think it will beat the market while 114 think it won’t.
- 6,890 investors are following the stock on Seeking Alpha, which rates it a “Hold.”
- Short interest is 2.01% of the float with 2.21 days to cover the float.
The Bottom Line on Clean Harbors
Value Line, analysts, and individual investors are still bullish, and Clean Harbors’ valuation is not stretched that much.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
