The Industrial Select Sector (XLI) dipped -1.98% for the week ending April 19, which saw airline stocks among the top gainers. Meanwhile, the SPDR S&P 500 Trust ETF (SPY) fell -3.07%.
XLI was among the 8 of the 11 S&P 500 sectors which ended the week in the red. Year-to-date, or YTD, both of these are in the green, XLI +5.68%, SPY +4.18%.
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, all these 5 stocks are in the green.
United Airlines (NASDAQ:UAL) +22.92%. Shares of the Chicago-based company soared +17.45% on Wednesday after first-quarter results (post market Tuesday) beat estimates. The stock rose again on Thursday (+5.50%) after United noted that it would receive compensation from Boeing due to the Federal Aviation Administration grounding the Boeing 737 MAX 9 aircraft.
The airline company had said in its earnings that the results reflect the approximately $200M impact from the grounding of 737 MAX 9, without which the company would have reported a quarterly profit. YTD, +24.53%.
UAL has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Strong Buy. The stock has a factor grade of A+ for Profitability and A for Growth. Meanwhile, the average Wall Street Analysts’ Rating is Buy, wherein 21 out of 21 analysts tag the stock as Strong Buy.
Alaska Air (ALK) +8.98%. This airline stock also surged on Wednesday (+4.71%) and then on Thursday (+4.03%) after Q1 results were better than Wall Street’s expectations and the company set upbeat second-quarter and FY24 profit guidance. The day also saw Hawaiian Holdings’ stock dip after a report about the Department of Justice’s review of its planned sale to Alaska Air. YTD, +15.20%.
The SA Quant Rating on ALK is Buy with score of C+ for Momentum and A- for Valuation. The average Wall Street Analysts’ Rating is positive too, with a Buy rating, wherein 6 out of 12 analysts see the stock as Strong Buy.
The chart below shows YTD price-return performance of the top five gainers and SPY:
Encore Wire (WIRE) +8.97%. Shares of the McKinney, Texas-based company jumped +11.59% on Monday after it announced that Italian company Prysmian (OTCPK:PRYMY) was acquiring it in a deal with an enterprise value of about €3.9B. YTD, +33.15%.
The SA Quant Rating on WIRE is Hold with score of A- for Profitability and D+ for Valuation. The average Wall Street Analysts’ Rating agrees and has a Hold rating too, wherein 3 out of 3 analysts view the stock as such.
Janus International (JBI) +7.45%. The building products maker’s stock gained the most on Tuesday (+4.04%). YTD, +16.02%. The SA Quant Rating on JBI is Buy, while the average Wall Street Analysts’ Rating is Strong Buy.
American Airlines (AAL) +7.30%. Another airline stock that gained this week following United Airlines’ earnings was Fort Worth, Texas based American Airlines, which rose +6.60% on Wednesday. YTD, +2.69%. The SA Quant Rating on AAL is Strong Buy, and the average Wall Street Analysts’ Rating is Buy.
This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -10% each. YTD, 3 out of these 5 stocks are in the red.
Equifax (NYSE:EFX) -12.47%. Shares of the data and workforce solutions provider tumbled the most on Thursday (-8.49%) after first quarter revenue missed estimates and the company issued soft guidance for the second quarter. YTD, -12.57%.
The SA Quant Rating on EFX is Hold with a factor grade of B+ for Profitability and B for Momentum. The average Wall Street Analysts’ Rating differs and has a Buy rating, wherein 11 out of 21 analysts view the stock as Strong Buy.
Avis Budget (CAR) -11.40%. The car rental company’s stock fell throughout the week. YTD, the shares have fallen -42.65%, the most among this week’s worst five performers for this period. The SA Quant Rating on CAR is Hold with score of F for Growth and A+ for Valuation. The average Wall Street Analysts’ Rating disagrees and has a Buy rating, wherein 4 out of 8 analysts tag the stock as Strong Buy.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Vertiv (VRT) -10.59%. Shares of the company — which provides products and services for data centers and communication networks — fell the most on Friday -7.41%. However, YTD the stock has surged +56.17%. The SA Quant Rating on VRT is Hold, with a factor grade of B+ for Profitability and A+ for Growth. The rating is in contrast to the average Wall Street Analysts’ Rating of Strong Buy rating, wherein 9 out of 13 analysts tag the stock as such.
Saia (SAIA) -10.42%. The trucking company’s stock fell throughout the week, amid a period which saw peers J.B. Hunt and Knight-Swift Transportation post soft reads on demand and pricing with their respective earnings and guidance updates. YTD, +18.09%. The SA Quant Rating on SAIA is Strong Buy, while the average Wall Street Analysts’ Rating is Buy.
Bloom Energy (BE) -10.34%. The stock has been falling since the past eight business days, and this week it declined the most on Monday (-4.66%). YTD, -34.93%. The SA Quant Rating on BE is Sell, which differs from the average Wall Street Analysts’ Rating of Buy.