The Industrial Select Sector SPDR (XLI) ended the week ending Nov. 18 in red (-0.09%) after four weeks of finding a solution. Earnings were also a factor this week among many top performers five winners (in this episode), with Rocket coming in as the worst performer.
The share of the SPDR S&P 500 Trust ETF (SPY) was well known.-0.62%) after last week’s meeting where investors remained cautious with hawkish comments from the Federal Reserve talking about raising rates to curb inflation. Meanwhile, leading indicators came in lower than expected in October, suggesting the US economy is “probably improving.” YTD, SPY and -16.62%where XLI is -6.02%.
The top five gainers in the industry (a market cap of $2B) all earned more than + 6% everyone this week. However, YTD, only one of these five stocks is in the green.
Atkore (NYSE: ATKR) + 14.11%. A Harvey, Ill.-based electrical and plumbing contractor. saw its stock rise on Friday after the successful FQ4 results, where revenue grew +11.5% Y/Y. YTD, shares have gained + 4.33%and ATKR is the only one of this week’s top five that is green for this time.
SA Quant’s price on ATKR is Buy, which takes into account factors such as Momentum, Profitability, and Valuation among others. The stock is rated A for Profitability and B- for Growth. Wall Street Analysts’ Rating agrees with its own Buy rating, in which two out of four analysts see the stock as such.
Evoque Water Technologies (AQUA) +7.67%. The Pittsburgh-based company went up on Nov. 15 (+ 14.88%) after Q4 results beat analysts’ expectations and the company posted its 2023 earnings above estimates. The SA Quant Rating on the shares is Hold, with A- for Momentum and D for Valuation. The rating contrasts with Wall Street Analysts’ Rating of Buy, where 3 out of 11 analysts rate the stock as a Strong Buy. YTD, AQUA has lost -6.89%.
The chart below shows the YTD price returns for the top five SP500 gainers:
Cup (CPA) +7.19%. The Panamanian airline was boosted after Q3 earnings beat analysts’ expectations, but the earnings did not push past expectations. YTD, the stock is down -1.88% and has an SA Quant Rating of Buy, with A+ for Growth and C+ for Momentum. The average Wall Street Analysts’ Rating is consistent with the Buy rating, in which 8 out of 16 analysts see the stock as a Strong Buy.
RXO (RXO) +6.98%. XPO Logistics (XPO) spun off its trucking division, RXO, from another trading company recently. The average Wall Street Analysts’ Rating on RXO is Buy, with 1 analyst rating the stock as a Strong Buy while 2 rate it as a Hold.
Xometry (XMTR) + 6.35%. The Derwood, Md.-based company. – which provides the share market – was the second best performer in Q3 + 67.87% (in this quarter). SA Quant Rating and Wall Street Analysts’ Rating both rate the stock as Buy. YTD, shares have fallen -16.96%.
The top five decliners this week among industrial stocks (market capitalization over $2B) all lost more than -10% everybody. YTD, all five stocks are in the red.
Rocket Lab USA (NASDAQ: RKLB) -18.29%. The stock posted gains last week following Q3 earnings. The California-based startup services provider was among the top gainers in the past three weeks, but YTD, it has fallen -62.54%the most of the five worst performers this week at this point.
The SA Quant Rating on RKLB is Strong Sell, with a score of D- for Profitability and F for Growth. This rating contrasts sharply with Wall Street Analysts’ Rating of Buy, where 5 out of 9 analysts rate the stock as a Strong Buy.
Matson (MATX) -12.36%. The Hawaii-based shipping company fell sharply on Nov. 14 (-7.30%) this week. The stock was among the top gainers about a month ago, however, YTD, shares have fallen -29.05%. The average Wall Street Analysts’ Rating for MATX is Hold, with 3 out of 3 analysts having the same view. The SA Quant Rating is also related to the Hold rating, where the Growth has an F rating but the Valuation has an A+ rating.
The chart below shows the YTD price returns for the five biggest losers and XLI:
SiteOne Landscape Supply (SITE) -11.82%. Real estate distributors based in Roswell, Ga. they swapped places from the list of gainers from last week to find themselves among the losers this week. YTD, the stock has not performed as well as it has lost -50.38%. SA Quant’s rate on SITE is Sell, with a B- score for Profitability and a C- for Momentum. Wall Street Analysts’ Rating is completely different from the Buy rating, where 4 out of 10 analysts consider the stock a Strong Buy and the remaining 6 call it a Hold.
Plug Power (PLUG) -11.46%. The Latham, New York-based company also filed a lawsuit last week. The store was among the top five decliners last month. YTD, PLUG is out -43.89% but the majority of Wall Street Analysts’ Ratings for the stock are Buy, in which 14 out of 29 analysts see the stock as a Strong Buy. This rating is different from the SA Quant Rating of Hold, with C+ for Valuation but A+ for Growth.
Spirit AeroSystems (SPR) -10.62%. Property of the Wichita, Kan. company -41.42% YTD and has a SA Quant Rating of Sell, and Profit with ratings of D+ and Growth F. Most Wall Street Analysts’ Rating disagrees with the Buy rating, with 5 out of 14 analysts seeing it as a Strong Buy.