In the latest session, shares of Clean Harbors Inc (Symbol: CLH) leaped above the average analyst 12-month target price of $186.91, selling at $187.40/share. When a stock strikes the target an analyst has set, the analyst essentially has two options: to downgrade on valuation, or, to revise their target price to a higher level. The reaction of analysts may also hinge on the fundamental business developments driving the stock price higher. If the company’s prospects are improving, then perhaps it’s time for that target price to be lifted.
Within the Zacks coverage universe, there are 11 different analyst targets contributing to the average for Clean Harbors Inc. However, the average is merely a mathematical average. There are analysts with lower targets than the average, with one eyeing a price of $165.00. On the other end of the scale, one analyst has set a target as high as $210.00. The standard deviation stands at $13.931.
The rationale behind examining the average CLH price target is to tap into a collective “wisdom of crowds” effort, consolidating the contributions of all the individual minds that have shaped the final number, rather than relying solely on the opinion of a single expert. With CLH surpassing the average target price of $186.91/share, investors in CLH have received a compelling signal to reevaluate the company and ponder for themselves: Is $186.91 just one checkpoint on the way to an even loftier target, or has the valuation become stretched to the extent that it’s time to consider cashing in some profits? Below is a table illustrating the current sentiment of the analysts covering Clean Harbors Inc:
| Recent CLH Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 8 | 8 | 8 | 7 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 2 | 2 | 2 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.45 | 1.45 | 1.45 | 1.5 |
The average rating shown in the last row of the above table ranges from 1 to 5, where 1 denotes Strong Buy and 5 indicates Strong Sell. This article utilized data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on CLH — for free.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
