On Friday, as the major indexes fell hard amid the latest news about Russia's invasion of Ukraine, Waste Management stock climbed more than 2%, and it was up 7.7% for the week. It's exhibiting unusual strength amid overall market uncertainty. The company also cleared a key technical benchmark Friday, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an improvement to 81, an increase from 78 the day before.
The new 81 RS Rating means that Waste Management stock has outperformed 81% of all stocks over the past year. It's a noteworthy change because market research shows that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 in the early stages of their moves.
Other Waste Management Stock Ratings
Among its other key ratings, Waste Management stock holds an 80 Composite Rating, putting it in the top 20% of all companies overall. Additionally, it has an 81 EPS Rating. However, big money investors will need more proof before they buy in. It has an E Accumulation/Distribution Rating, on an A+ to E scale.
Waste Management has reported double-digit earnings and profit growth for at least the past four quarters. On Feb. 2 it reported 12% EPS growth in its fourth quarter, to $1.26. Revenue grew 15% to $4.68 billion last quarter.
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Waste Management stock is building a consolidation with a 168.14 buy point. See if the stock can clear the breakout price in heavy volume.
Waste Management stock earns the No. 11 rank among its peers in the Pollution-Control industry group. Clean Harbors and Casella Waste Systems are among the group's highest-rated stocks.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks stacks up against all the other stocks in our database.
