AMRC - Enovix charges to top industrial gainer of week UniFirst sees loser tag

2023-04-01 12:35:49 ET

The Industrial Select Sector ( XLI ) gained for the second week in a row and for the week ending March 31 was up ( +4.41% ). YTD XLI has risen +3.02% . Enovix led the gainers but this week's list also included aerospace product makers. Meanwhile, earnings impacted some decliners (in our segment).

The SPDR S&P 500 Trust ETF ( SPY ) also gained ( +3.45% ) helped by, among other things, no fresh news regarding the banking crisis and February Personal Spending data which could boost the case for Federal Reserve to halt its rate-hiking run. YTD, SPY is +7.05% .

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +12% each this week. YTD, 3 out of these 5 stocks are in the green.

Enovix ( NASDAQ: ENVX ) +32.65% . The Fremont, Calif.-based company's shares climbed on Wednesday ( +21.44% ) after it said that Malaysia's YBS International Berhad will likely take a financial stake in its manufacturing line at Fab-2.

ENVX 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 C+ for Growth. The rating is in contrast to the average Wall Street Analysts' Rating of Strong Buy , wherein 10 out of 12 analysts see the stock as such. YTD +19.86%.

FTAI Aviation ( FTAI ) +14.83% . The New York-based company, which makes and leases aircraft products, saw its stock soar the most this week on Wednesday ( +8.76% ). YTD, FTAI has risen +63.32% , the most among this week's top five gainers for this period.

The SA Quant Rating on FTAI is Buy with score of A+ for Momentum and C+ for Valuation. The average Wall Street Analysts' Rating has a Strong Buy rating, wherein 7 out of 10 analysts tag the stock as such.

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

Frontier Group ( ULCC ) +13.63% . Frontier's shares rose throughout the week even as one of the first indications of possible weakening of airline demand arrived on Monday.

The SA Quant Rating on ULCC is Hold with a score of A for Growth and C- for Momentum. The average Wall Street Analysts' Rating differs with a Strong Buy , wherein 7 out of 12 analysts view the stock as Strong Buy. YTD, -4.19% .

Ameresco ( AMRC ) +13.15% . The Framingham, Mass.-based energy efficiency solutions provider also saw its stock gain the whole week. However, YTD the shares have fallen -13.86% , the most among this week's top five gainers for this period. The SA Quant Rating on AMRC is Sell , which is in stark contrast to the average Wall Street Analysts' Rating of Strong Buy .

Spirit AeroSystems ( SPR ) +12.59% . Wichita, Kan.-based company too saw green throughout the week, with the most on Tuesday ( +6.42% ). YTD, the aero-defense products maker has soared +16.66% . The SA Quant Rating on SPR is Hold , which differs with the average Wall Street Analysts' Rating of Buy .

This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -1% each. YTD, 2 out of these 5 stocks are in the red.

UniFirst ( NYSE: UNF ) -7.45% . The company's shares took a hit on Wednesday ( -10.42% ) after mixed Q2 results . The specialty garments maker also provided a revised fiscal 2023 outlook.

The SA Quant Rating on UNF is Hold with a score of C- for both Profitability and Growth. The average Wall Street Analysts' Rating agrees with a Hold rating of  its own, wherein 2 out of 4 analysts see the stock as such.

Elbit Systems ( ESLT ) -3.51% . The Israeli aero defense company's stock dipped the most this week on Tuesday ( -3.84% )  following its Q4 results amid a time when the country is seeing protests over judicial reforms. However, YTD the stock has risen +3.76% .

The SA Quant Rating on ESLT is Hold , with a score of D- for Valuation and D+ for Momentum. The average Wall Street Analysts' Rating is Buy , wherein 1 out of 3 analysts see the stock as Strong Buy, while the other 2 view it as Hold.

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

The SA Quant Rating on GNRC is Sell , with a score of C for Profitability and D- Growth. The rating is in contrast to the average Wall Street Analysts' Rating of Buy rating, wherein 8 out of 27 analysts tag the stock as Strong Buy. YTD, +7.30% .

Kanzhun ( BZ ) -2.86% . The Beijing-based online recruitment platform continued to show its volatility, as the stock swung to losses this week after being among the gainers in the prior week. The company's shares had seen such ups and down throughout 2022. YTD, BZ is -6.58% .

The SA Quant Rating on BZ is Hold , while the average Wall Street Analysts' Rating differs with a Strong Buy rating.

Dycom Industries ( DY ) -1.41% . The Florida-based company rounded the worst five performers for the week. However, YTD, the stock is still in green ( +0.05% ). The SA Quant Rating on DY is Buy , while the average Wall Street Analysts' rating is Strong Buy .

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