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6 Reasons Why You Should Buy Clean Harbors (CLH) Stock Now

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A prudent investment decision involves buying well-performing stocks at the right time while selling those at risk. A rise in share price and strong fundamentals signal a stock’s bullish run.

Clean Harbors Inc. (CLH - Free Report) has performed exceptionally well lately and has the potential to sustain its momentum in the near term. Consequently, if you haven’t taken advantage of the share price appreciation yet, it’s time you add the stock to your portfolio.

What Makes Clean Harbors an Attractive Pick?

An Outperformer: A glimpse at the company’s price trend reveals that the stock has had an impressive run on the bourse over the past year. Shares of Clean Harbors have gained 29.6% over the past year, outperforming the 13% decline of the industry it belongs to.

Zacks Investment Research
Image Source: Zacks Investment Research

Solid Zacks Rank: Clean Harbors has a Zacks Rank #1 (Strong Buy). Our research shows that stocks with a Zacks Rank #1 or #2 (Buy) offer the best investment opportunities. Thus, the company is a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.

Northward Estimate Revisions: The direction of estimate revisions serves as an important pointer when it comes to the price of a stock. Over the past 90 days, the Zacks Consensus Estimate for Clean Harbors’ 2022 earnings has climbed 21% to $4.26 per share.

Positive Earnings Surprise History: Clean Harbors has an impressive earnings surprise history. The company delivered an earnings surprise of 43.2% in the last four quarters, on average.

Earnings Expectations: Earnings growth and stock price gains often serve as indicators of a company’s prospects. For first-quarter 2022, Clean Harbors’ earnings are expected to register 47.6% growth. For full-year 2022 and 2023, the company’s earnings are expected to grow at 17% and 10.3%, respectively, year over year.

Growth Factors: Clean Harbors focuses on improving its efficiency and lowering operating costs through enhanced technology, process efficiencies and stringent cost management. It continues to make capital investments to enhance the quality of its services and comply with government as well as local regulations. Acquisitions help the company expand its business across multiple lines of service. Consistency in rewarding its shareholders through share buybacks boosts investor confidence and positively impact earnings per share.

Other Stocks to Consider

Some other top-ranked stocks in the broader Business Services sector that investors may consider are Cross Country Healthcare (CCRN - Free Report) , NV5 Global (NVEE - Free Report) and CBIZ (CBZ - Free Report) , each sporting a Zacks Rank #1.

Cross Country Healthcare has a trailing four-quarter earnings surprise of 41.5%, on average.

Cross Country Healthcare’s shares have surged 76.1% in the past year. The company has a long-term earnings growth of 6.5%.

NV5 Global has an expected earnings growth rate of 6.1% for the current year. It delivered a trailing four-quarter earnings surprise of 22.2%, on average.

NV5 Global’s shares have surged 38.7% in the past year. The company has a long-term earnings growth of 14.2%.

CBIZ has an expected earnings growth rate of 20.5% for the current year. The company has a trailing four-quarter earnings surprise of 2.5%, on average.

CBIZ’s shares have surged 26.9% in the past year.

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