EVEX - Net Power surges to top industrial gainer of week Forward Air sees top loser tag again

2023-08-19 12:35:05 ET

The Industrial Select Sector ( XLI ) fell -2.43% for the week ending Aug. 18 following last week's mild gains. The SPDR S&P 500 Trust ETF ( SPY ) sank for the third week in a row ( -2.05% ). However, Year-to-date, XLI has risen +8.18% , while SPY has climbed +14.14% .

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +3% each this week. YTD, 4 out of these 5 stocks are in the green.

Net Power ( NYSE: NPWR ) +16.39% . The stock soared on Monday ( +9.06% ) following Q2 results , wherein the clean energy technology company noted that it had $649M in cash and cash equivalents with no debt, and provided business updates .  YTD, the stock has surged +51.52% .

NPWR 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 A+ for Momentum but F for Profitability. The average Wall Street Analysts' Rating differs with a Strong Buy rating, wherein 4 out of 5 analysts tag the stock as such.

Mercury Systems ( MRCY ) +6.32% . The aero-defense company's stock rose +6.89% on Wednesday despite Q4 results (post market on Tuesday) misssed estimates. mercury also appointed Bill Ballhaus as president and CEO. YTD, the shares have slumped -16.12% , and it's the only stock among this week's gainers which is in the red for this period.

The SA Quant Rating on MRCY is Sell with score of D+ for Valuation and D- for Growth. The rating is in stark contrast to the average Wall Street Analysts' Rating of Buy , wherein 2 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:

Generac ( GNRC ) +5.38% . The generator maker's stock was among the worst five decliners two weeks ago and this week climbed the most on Monday ( +4.35% ). YTD, the stock has risen +12.61% .

The SA Quant Rating on GNRC is Sell , with factor grade of C for Growth and C- for Profitability. The average Wall Street Analysts' rating differs with a Buy , wherein 11 out of the 27 analysts view the stock as Strong Buy.

Corporación América Airports ( CAAP ) +4.72% . The Luxembourg-based airport operator's shares surged +7.61% on Friday after Q2 GAAP EPS beat estimates (post market on Thursday). YTD, the shares have soared +65.18% , the most among this week's top 5 gainers. The SA Quant Rating on CAAP is Strong Buy , while the average Wall Street Analysts' Rating is Hold .

Hexcel ( HXL ) +3.89% . The maker of lightweight materials for planes saw rating upgrades at RBC Capital and at Wolfe Research on airplane demand on aerospace growth . The SA Quant Rating and the average Wall Street Analysts' Rating, both, on HXL is Hold . YTD, the stock has gained +20.41% .

This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -9% each. YTD, 4 out of these 5 stocks are in the green.

Forward Air ( NASDAQ: FWRD ) -16.83% . The freight and logistics company's stock saw the top decliner's spot for the second week in a row after Baird downgraded the shares, adding to the chorus of Omni deal critics.

The SA Quant Rating on FWRD is Hold with a factor grade of B+ for Profitability and C+ for Valuation. The average Wall Street Analysts' Rating agrees with a Hold rating of its own, wherein 5 out of 8 analysts see the stock as such. YTD, the shares have fallen -38.43% and is the only one among this week's top five decliners which is in the red for this period.

Symbotic ( SYM ) -13.53% . The stock continued to lose steam agin this week and landed among the top five decliners for the second week in a row. The shares fell the most on Tuesday ( -9.76% ). However, YTD, the shares have gained +215.24% . The SA Quant Rating on SYM is Hold with score of A+ for Momentum and D for Valuation. The average Wall Street Analysts' Rating has a more positive view with a Buy rating, wherein 7 out of 13 analysts tag the stock as Strong Buy.

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

Enovix ( ENVX ) -12.79% . The lithium-ion battery maker's stock declined the most on Thursday ( -7.65% ). The SA Quant Rating on ENVX is Hold with score of A+ for Profitability and C+ for Growth. The average Wall Street Analysts' Rating differs with a Strong Buy rating, wherein 9 out of 12 analysts view the stock as such. YTD, +12.94% .

Eve Holding ( EVEX ) -9.76% . Electric air taxi developer Eve's shares fell throughout the week. The SA Quant Rating on EVEX is Hold , while the average Wall Street Analysts' Rating is Buy . YTD, +6.53% .

Trex ( TREX ) -9.57% . The decking products maker has a SA Quant Rating of Hold , while the average Wall Street Analysts' Rating is Buy . YTD, the stock has jumped +59.23% .

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