The Industrial Select Sector (XLI) rose +0.64% for the week ending March 8, while the SPDR S&P 500 Trust ETF (SPY) dipped -0.22%.
Year-to-date, XLI has gained +7.29%, while SPY has risen +7.66%.
The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +11% each this week. YTD, 4 out of these 5 stocks are in the green.
AeroVironment (NASDAQ:AVAV) +29.13%. The Arlington, Va.-based drone maker’s stock rose +27.94% on Tuesday after third quarter results beat estimates. AVAV has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Hold. The stock has a factor grade of D+ for Profitability and A+ for Growth. Meanwhile, the average Wall Street Analysts’ Rating differs and has a Buy rating, wherein 2 out of 5 analysts tag the stock as Strong Buy. YTD, +31.89%.
Bloom Energy (BE) +13.55%. Shares of the company rose the most on Thursday (+9.43%). A day before this, Bloom said it was teaming up with Shell (SHEL) to study decarbonization solutions, utilizing its hydrogen electrolyzer technology. The company’ stock also saw an upgrade at Truist to Hold from Sell. YTD, the stock has fallen -30.34%, and is the only one among this week’s top five gainers which is in the red for this period.
The SA Quant Rating on BE is Sell with score of D- for Momentum and C for Valuation. The rating is in contrast to the average Wall Street Analysts’ Rating of Buy, wherein 8 out of 25 analysts see the stock as Strong Buy.
The chart below shows 6-month price-return performance of the top five gainers and SPY:
Dycom Industries (DY) +13.07%. Shares of the Palm Beach Gardens, Fla.-based company, which offers engineering services to telecommunications providers, rose throughout the week. The SA Quant Rating on DY is Buy with score of C+ for Profitability and B for Valuation. The average Wall Street Analysts’ Rating is Strong Buy, wherein 8 out of 8 analysts view the stock as such.
Rentokil Initial (RTO) +12.27%. The pest control services provider reported quarterly result on Thursday following which the stock soared +18.05%. YTD, +13.25%. The SA Quant Rating on RTO is Hold, which is in contrast to the average Wall Street Analysts’ Rating of Buy.
JetBlue Airways (JBLU) +11.13%. The stock climbed the most on Wednesday (+6.16%). The week also saw JetBlue back away from its efforts to acquire Spirit Airlines (SAVE). YTD, +29.55%. The SA Quant Rating on JBLU is Buy, which differs from the average Wall Street Analysts’ Rating of Hold.
This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -4% each. YTD, only all these 5 stocks are in the green.
Encore Wire (NASDAQ:WIRE) -7.55%. McKinney, Texas-based company’s stock fell the most on Tuesday (-5.39%). YTD, +4.55%. The SA Quant Rating on WIRE is Hold with a factor grade of A- for Profitability and B+ for Momentum. The average Wall Street Analysts’ Rating disagrees and has a Strong Buy rating wherein 2 out of 3 analysts view the stock as Strong Buy.
Ferguson (FERG) -7.31%. The distributor of plumbing and heating products saw its stock tumble -6.72% on Tuesday after second quarter results missed estimates. YTD, +2.94%.
The SA Quant Rating on FERG is Hold with score of D- for Growth and A- for Momentum. The average Wall Street Analysts’ Rating differs and has a Buy rating, wherein 9 out of 18 analysts tag the stock as Strong Buy.
The chart below shows 6-month price-return performance of the worst five decliners and XLI:
American Airlines (AAL) -6.26%. The stock dipped the most on Monday (-5.43%) after the company announced that it ordered 260 new aircraft. The SA Quant Rating on AAL is Strong Buy with a factor grade of A- for Profitability and A+ for Growth. Meanwhile, the average Wall Street Analysts’ Rating is Buy rating, wherein 7 out of 20 analysts view the stock as Strong Buy. YTD, +6.84%.
Elbit Systems (ESLT) -4.67%. The aero-defence company said on Tuesday that it expects to record non-cash expenses of about $52M in the fourth quarter of 2023. YTD, +0.79%. The SA Quant Rating on ESLT is Hold while the average Wall Street Analysts’ Rating is Buy.
Herc (HRI) -4.09%. The equipment rental company has seen its stock rise +5.10% year-to-date. The SA Quant Rating on HRI is Buy, and so is the average Wall Street Analysts’ Rating, Buy.