The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Clean Harbors (CLH) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Clean Harbors is a member of our Business Services group, which includes 329 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 3.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CLH has moved about 48.6% on a year-to-date basis. At the same time, Business Services stocks have gained an average of 12.8%. This means that Clean Harbors is performing better than its sector in terms of year-to-date returns.
Braze, Inc. (BRZE) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 67.4%.
For Braze, Inc. the consensus EPS estimate for the current year has increased 8.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Clean Harbors belongs to the Waste Removal Services industry, which includes 17 individual stocks and currently sits at #187 in the Zacks Industry Rank. On average, this group has gained an average of 9.5% so far this year, meaning that CLH is performing better in terms of year-to-date returns.
Braze, Inc. however, belongs to the Technology Services industry. Currently, this 187-stock industry is ranked #150. The industry has moved +20.7% so far this year.
Investors interested in the Business Services sector may want to keep a close eye on Clean Harbors and Braze, Inc. as they attempt to continue their solid performance.
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