JOBY - GE climbs to top industrial gainer Kanzhun sees No. 1 loser tag in tough week

2023-03-11 12:35:31 ET

The week ending March 10 saw the Industrial Select Sector swing to losses after ( XLI ) ( -4.50% ) washing away gains from the previous week. All 11 S&P 500 sectors ended the week in red.

The SPDR S&P 500 Trust ETF ( SPY ) slumped ( -4.52% ), amid Federal Reserve Chair Jerome Powell's hawkish testimony before Senate noting than inflationary pressures were running higher than expected. However, Powell said that no decision has been made on ratcheting up rate hike pace in his testimony before a House committee.

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all rose more than +1% each this week, which did not see much gains.

General Electric ( NYSE: GE ) +5.35% . The industrial conglomerate's shares rose ( +5.27% ) on Thursday after management forecast that demand for jet engines and maintenance services would drive revenue gains for the next couple of years. The company reaffirmed its FY2023 guidance with high-single-digit organic revenue growth, adjusted EPS of $1.60 to $2.00, and free cash flow of $3.4B to $4.2B.

GE has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Hold . The stock had a factor grade of A+ for Profitability but C- for Growth. The rating is in contrast to the average Wall Street Analysts' Rating of Buy , wherein 11 out of 21 analysts see the stock as Strong Buy. YTD, +39.18% .

Embraer ( ERJ ) +4.87% . The Brazilian aircraft maker rose as much as 8.7% on Friday to hit a 52-week high (closing the day +4.27% ) after raising its forecast for revenue and aircraft deliveries in its Q4 results .

The SA Quant Rating on ERJ is Buy , with a score of A for Momentum and B+ Growth. The average Wall Street Analysts' Rating concurs with a Buy rating of its own, wherein 5 out of 12 analysts view the stock as Strong Buy. YTD, +31.93% .

The chart below shows past 6-month price-return performance of the top five gainers and SP500:

ZTO Express (Cayman) ( ZTO ) +4.13% . The Chinese logistics services provider is the only stock among this week's top five to be in the red YTD ( -4.21% ). The SA Quant Rating on ZTO is Hold , with a factor grade of B+ for Profitability and C- for Momentum. The average Wall Street Analysts' Rating differs with a Strong Buy rating, wherein 15 out of 22 analysts tag the stock as such.

Elbit Systems ( ESLT ) +3.79% . The Israeli aero-defense company has a SA Quant Rating of is Hold , which is in start contrast to the average Wall Street Analysts' Rating of Buy . YTD, +6.64% .

GFL Environmental ( GFL ) +1.87% . The Canadian waste management company has an average Wall Street Analysts' Rating of Buy , while the SA Quant Rating of Hold . YTD, +9.78% .

This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -13% each.

Kanzhun ( NASDAQ: BZ ) -17.29% . The Beijing-based online recruitment platform's stock fell throughout the week. The shares have seen volatility throughout 2022 with considerable ups and downs.

The SA Quant Rating on BZ is Hold with B+ score for Profitability and B- for Growth. The rating is in stark contrast to the average Wall Street Analysts' Rating of Strong Buy , wherein 9 out of 13 analysts see the stock as such. YTD, +10.26% .

Avis Budget Group ( CAR ) -17.18% . Shares of the Parsippany, N.J.-based car rental company fell the most on Friday ( -8.14% ). The SA Quant Rating on CAR is Hold , with a score of A for Momentum and B+ for Valuation. The average Wall Street Analysts' Rating agrees with a Hold rating of its own, wherein 3 out of 6 analysts see the stock as such. YTD, +17.03% .

The chart below shows past 6-month price-return performance of the worst five decliners and XLI:

Carpenter Technology ( CRS ) -13.30% . The specialty metals maker saw its shares slump across the week.  The SA Quant Rating on CRS is Hold , with a score of A+ for Growth but D+ for Profitability. The average Wall Street Analysts' Rating differs with a Buy rating, wherein 2 out of 3 analysts see the stock as Strong Buy. YTD, +22.12% .

Joby Aviation ( JOBY ) -13.16% . The Santa Cruz, Calif.-based air taxi maker's shares fell ( -6.89% ) on Tuesday after Deutsche Bank downgraded the stock to Sell from Hold. The average Wall Street Analysts' Rating on JOBY is Hold .  YTD, +18.21% .

Herc ( HRI ) -13.09% . The equipment rental supplier company announced the departure of CFO Mark Irion on Thursday and the shares also dived the most on that day ( -7.14% ). The average Wall Street Analysts' rating on HRI is Buy . YTD, -3.96% .

For further details see: