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The Industrial Select Sector (XLI) fell -0.60% for the week ending Sept. 15, while the SPDR S&P 500 Trust ETF (SPY) dipped -0.48%. XLI was among the three of the 11 S&P 500 sectors which ended the week in red. However, year-to-date, XLI has climbed +6.91%, and SPY has risen +15.93%.
The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +7% each this week. YTD, 3 out of these 5 stocks are in the green.
Ameresco (NYSE:AMRC) +14.19%. The Framingham, Mass.-based company, which provides energy efficiency solutions, onMonday announced a regional solar energy project in partnership with communities surrounding the City of Craig, CO, and Yampa Valley Electric Association.
AMRC has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Sell. The stock has a factor grade of D for Profitability and D+ for Valuation. The average Wall Street Analysts’ Rating differs completely with a Strong Buy rating, wherein 10 out of 14 analysts tag the stock as such. YTD, the stock has tumbled -18.18%, the most among this week’s top five gainers for this period.
Eve Holding (EVEX) +10.11%. The electric air taxi developer’s shares shot up the most on Friday +10.25%. YTD, the stock has risen +22.5%. The SA Quant Rating on EVEX is Hold with score of C for Momentum and D+ for Growth. The average Wall Street Analysts’ Rating disagrees, and has a Buy rating, wherein 3 out of 8 analysts see the stock as Strong Buy.
The chart below shows YTD price-return performance of the top five gainers and SPY:
Canadian National Railway (CNI) +7.94%. The rail stock rose throughout the week. However, YTD, the shares are slightly down, -2.09%. CNI has a SA Quant Rating of Hold with factor grade of A+ for Profitability but D for Growth. The rating is in contrast to the average Wall Street Analysts’ Rating of Buy, wherein 7 out of 33 analysts tag the stock as Strong Buy.
Carpenter Technology (CRS) +7.61%. The Philadelphia-based specialty metals maker saw its stock rise the most on Wednesday (+6.50%). YTD, the shares have surged +81.43%, the most among this week’s top five gainers for this period. The SA Quant Rating on CRS is Hold, while the average Wall Street Analysts’ Rating is Strong Buy.
First Advantage (FA) +7.26%. The employee screening services provider extended its existing $200M share buyback authorization by one year to Dec. 31, 2024. The SA Quant Rating on FA is Hold, which differs with the average Wall Street Analysts’ Rating of Buy. YTD, +21.12%.
This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -9% each. YTD, 1 out of these 5 stocks is in the red.
Rocket Lab USA (NASDAQ:RKLB) -17.42%. The space company’s stock fell -12.17% on Tuesday after Founder Peter Beck filed to sell shares valued at $22.3M. However YTD, the shares are still in green, +35.81%.
The SA Quant Rating on RKLB is Hold with a factor grade of D- for Profitability and B for Momentum. The rating differs with the average Wall Street Analysts’ Rating of Buy, wherein 4 out of 8 analysts view the stock as Strong Buy.
Symbotic (SYM) -10.56%. The stock continued to lose steam this week and landed among the top five decliners, as it had done in August too. However, YTD, the shares have soared +166.75%. The SA Quant Rating on SYM is Hold with score of C for Growth and C- for Valuation. The average Wall Street Analysts’ Rating has a more positive view with a Buy rating, wherein 7 out of 13 analysts see the stock as Strong Buy.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Joby Aviation (JOBY) -10.41%. The electric air-taxi maker’s stock fell the most on Friday (-5.76%). But, YTD, the shares have gained +95.22%. The SA Quant Rating on JOBY is Hold with score of D- for Profitability and B- for Growth. The average Wall Street Analysts’ Rating concurs with a Hold rating of its own, wherein 2 out of 7 analysts tag the stock as such.
RTX (RTX) -9.20%. The stock slumped -7.88% on Monday after the aero-defense company said that more than 600 of its geared turbofan engines will have to be removed from planes for quality checks. The removals will reduce its pretax profit by $3B to $3.5B in the next several years. The news also brought downgrades at Barclays Capital, RBC Capital Markets and Bank of America during the week.
YTD, the stock has fallen -24.89%, the only one among this week’s worst decliners which is in the red for this period. The SA Quant Rating on RTX is Hold, while the average Wall Street Analysts’ Rating is Buy.
Builders FirstSource (BLDR) -9.04%. The stock fell the most on Friday (-5.23%). However, YTD, the shares have soared +96.12%. The SA Quant Rating on BLDR is Hold, but the average Wall Street Analysts’ Rating is Buy.