For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Clean Harbors (CLH) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Clean Harbors is one of 247 companies in the Business Services group. The Business Services group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Clean Harbors is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CLH's full-year earnings has moved 4.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CLH has moved about 27.1% on a year-to-date basis. In comparison, Business Services companies have returned an average of -8.2%. This shows that Clean Harbors is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is Dave Inc. (DAVE). The stock is up 73.4% year-to-date.
The consensus estimate for Dave Inc.'s current year EPS has increased 20.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Clean Harbors belongs to the Waste Removal Services industry, a group that includes 23 individual stocks and currently sits at #53 in the Zacks Industry Rank. This group has lost an average of 0.9% so far this year, so CLH is performing better in this area.
In contrast, Dave Inc. falls under the Technology Services industry. Currently, this industry has 121 stocks and is ranked #110. Since the beginning of the year, the industry has moved -1.6%.
Investors with an interest in Business Services stocks should continue to track Clean Harbors and Dave Inc.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).