If this recent market upturn has legs, and there's no guarantee of that given it's earlier instability, environmental company Clean Harbors is in position to make a big advance. On Monday, top-ranked Clean Harbors stock earned an upgrade for its IBD SmartSelect Composite Rating to a near-perfect 96, up from 94 the day before. A 99 Composite Rating is best possible.
The new score indicates Clean Harbors stock is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria.
Clean Harbors Stock Rise Linked To Hot Clean Energy Sector
Clean Harbors provides a variety of environmental services, including to the booming oil and natural gas industries. Among other services and products, the Norwell, Mass.-based company provides fracking water treatment and disposal and help with seismic surveying at possible drilling sites. Other services include storm damage response, additives for oil and gas, and cleaner refining and blending processes.
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The stock has a 98 EPS Rating, which means its recent quarterly and annual earnings growth tops 98% of all stocks. And its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
Clean Harbors broke out earlier, but is now trading right around the prior 96.57 entry from a flat base. Its stock hit an all-time high at 118.89 in early November and since then it's been on the same roller-coaster ride as most stocks. On Monday, Clean Harbors stock eased 0.2% to 96.30, just under its earlier buy point.
In Q1, the company posted 98% earnings-per-share growth to 83 cents per share. That marks two straight quarters of rising EPS gains. Sales shot up 45% to $1.17 billion, up from 41% growth in the prior quarter. That also marks two consecutive sales reports with rising growth.
Clean Harbors earns the No. 1 rank among its peers in the Pollution-Control industry group. Aris Water Solutions and Perma Pipe International are also among the group's highest-rated stocks.
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