JOBY - Earnings push Vertiv to top industrial gainer of week while dragging down losers

2023-04-29 12:35:25 ET

For the week ending April 28, the Industrial Select Sector ( XLI ) fell ( -0.61% ) and was among the five, out of the 11 S&P 500 sectors, which closed the week in red. The SPDR S&P 500 Trust ETF ( SPY ) gained ( +0.90% ) amid the First Republic Bank crisis and a busy earnings week. The coming week will see a focus on the Fed meet, where a 25 basis point hike is expected.

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, all these 5 stocks are in the green.

Vertiv ( NYSE: VRT ) +22.50% . The Ohio-based company, which provides services for data centers, saw its stock soar +11.12% on Wednesday after Q1 results beat estimates and raised its operating profit guidance.

VRT 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 Growth and C- for Profitability. The average Wall Street Analysts' Rating is Buy , wherein 6 out of 10 analysts see the stock as Strong Buy. YTD, +9.22% .

Hubbell ( HUBB ) +16.78% . Shares got a boost of +11.63% on Tuesday after Q1 earnings surpassed estimates and the Shelton, Conn.-based company raise its FY23 Adjusted EPS outlook.

The SA Quant Rating on HUBB is Hold with score of A for Momentum but D- for Valuation. The average Wall Street Analysts' Rating agrees with a Hold rating of its own, wherein 6 out of 10 analysts tag the stock as such. YTD, +14.76% .

Joby Aviation ( JOBY ) +12.76% . The week saw the electric air taxi maker announce the extension of a contract with the U.S. Air Force and a long-term agreement with Toyota Motor.

The SA Quant Rating on JOBY is Sell with a score of D- for Profitability and C- for Momentum. Meanwhile, the average Wall Street Analysts' is Hold , wherein 3 out of 6 analysts view the stock as Hold. YTD, +29.25% .

Carpenter Technology ( CRS ) +12.52% . First quarter results of the steel maker sent the stock soaring +11.80% on Thursday after Q3 results beat analysts' expectations. YTD, the shares have gained +42.77% , the most among this week's top five gainers. The SA Quant Rating on CRS is Hold , which is in contrast to the average Wall Street Analysts' Rating of Buy .

The chart below shows YTD price-return performance of the top five gainers and SP500:

Arcosa ( ACA ) +11.86% . The Dallas-based construction products maker's shares rose +12.66% on Friday after Q1 revenue and adjusted EPS exceeded expectations. The SA Quant Rating and the average Wall Street Analysts' Rating, both, have a Buy rating on ACA. YTD, +24.29% .

This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -8% each. YTD, 2 out of these 5 stocks are in the red.

ZIM Integrated Shipping Services ( NYSE: ZIM ) -11.32% . The Israeli shipping company was among the worst five performers for the second week in a row. The stock fell throughout the week, barring Friday. The SA Quant Rating on ZIM is Hold with a factor grade of A+ for Profitability but F for Growth. However, the average Wall Street Analysts' Rating a Sell , wherein 4 out of 7 analysts see the stock as Hold. YTD, -0.70% .

TFI International ( TFII ) -9.50% . The Canadian logistics services provider's stock slumped -11.33% on Wednesday after Q1 results could not breach estimates.

The SA Quant Rating on TFII is Buy with a factor grade of A- for Profitability and B for Momentum. The average Wall Street Analysts' Rating concurs with a Buy rating of its own, wherein 8 out of 21 analysts tag the stock as Strong Buy. YTD, +7.54% .

The chart below shows YTD price-return performance of the worst five decliners and XLI:

FTI Consulting ( FCN ) -8.30% . The shares fell -8.39% on Thursday after mixed quarterly results. The Washington, D.C.-based company's revenue surpassed estimates but the GAAP EPS missed out.

The SA Quant Rating on FCN is Buy , with a score of A for Momentum and B- for Profitability. The average Wall Street Analysts' agrees with its own Buy rating, wherein 2 out of 3 analysts view the stock as Strong Buy. YTD, the stock has risen +13.66% , the most among this week's top five decliners.

Hub Group ( HUBG ) -8.18% . The transportation and logistics services provider reported mixed results and provided a FY23 revenue outlook which was seen below expectations. The SA Quant Rating on HUBG is Hold , which differs from the average Wall Street Analysts' Rating of Buy . YTD, -5.15% .

Old Dominion Freight Line ( ODFL ) -8.16% . Thomasville, N.C.-based company's shares dipped -9.97% on Wednesday after Q1 results disappointed. But the stock picked up a bit on Friday after Deutsche Bank upgraded the shares on potential for earnings doubling. The SA Quant Rating and the average Wall Street Analysts' rating, both, on ODFL is Hold . YTD, +12.90% .

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