Barrington analyst Kevin Steinke raised the firm’s price target on Heritage-Crystal Clean to $46 from $45 and keeps an Outperform rating on the shares. The firm notes that the company’s Q4/2022 results exceeded expectations, with revenue increased 42.2% year-over-year to $241.1M, better than its estimate of $223.4M and the consensus of $225.5M. The acquisition of Patriot Environmental Services, which closed on 8/3/22, contributed 21.6 percentage points to growth, Barrington says. Therefore, organic revenue growth in Q4/2022 was 20.6%.
Published first on TheFly
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