JOBY - Rocket Lab soars to top industrial gainer of week Gates Industrial sees loser tag

2023-05-20 12:35:02 ET

The Industrial Select Sector ( XLI ) ended its 3-week run in the red and rose +1.32% for the week ending May 19. XLI was among the seven, out of the 11 S&P 500 sectors, which closed the week in green. Meanwhile, the SPDR S&P 500 Trust ETF ( SPY ) also ended its two week losing streak and gained +1.71% .

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +8% each this week. YTD, 4 out of these 5 stocks are in the green.

Rocket Lab USA ( NASDAQ: RKLB ) +13.35% . The company announced announced on Monday that it was preparing to launch the second half of NASA's TROPICS satellite constellation for storm monitoring as early as May 22. YTD, the stock has risen +23.87% .

RKLB has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Sell . The stock has a factor grade of D- for Profitability and C+ for Growth. The average Wall Street Analysts' Rating differs with a Buy , wherein 4 out of 8 analysts see the stock as Strong Buy.

Advanced Drainage Systems ( WMS ) +12.70% . The Hilliard, Ohio-based company saw its shares rise +10.97% on Thursday after Q4 results beat estimates. The SA Quant Rating on WMS is Hold with score of C+ for Momentum but F for Valuation. The rating is in contrast to the average Wall Street Analysts' Rating of Buy , wherein 4 out of 7 analysts tag the stock as Strong Buy. YTD, +17.79% .

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

Joby Aviation ( JOBY ) +9.66% . The electric air taxi maker's stock gained the most on Thursday +5.74% but fell on Friday ( -7.59% ). On Thursday an SEC filing informed  about proposed sale of securities by a company officer.

JOBY has a SA Quant Rating of Hold with factor grade of A- for Momentum but D- for Profitability. The average Wall Street Analysts' Rating agrees with Hold rating of its own, wherein 3 out of 6 analysts view the stock as Hold. YTD, the shares has soared +52.54% .

Bloom Energy ( BE ) +9.59% . J.P. Morgan upgraded the stock to Overweight from Neutral which sent the shares soaring +5.11% on Wednesday. However, YTD, the shares have declined -27.09% . The SA Quant Rating on BE is Sell , which is in stark contrast to the average Wall Street Analysts' Rating of Buy .

Crane NXT ( CXT ) +8.67% . The Stamford, Conn.-based company's stock rose throughout the week. YTD, +53.84% , the most among this week's top 5 gainers. The average Wall Street Analysts' Rating is Strong Buy , with 1 Buy and 1 Strong Buy rating.

This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -3% each. YTD, 1 out of these 5 stocks is in the red.

Gates Industrial ( NYSE: GTES ) -11.60% . The Denver-based maker of engineered power transmission products saw its stock fall -9.60% on Wednesday after the company said certain selling stockholders associated with Blackstone were offering of up to 22.5M ordinary shares for sale. However, YTD, the stock has gained +4.82% .

The SA Quant Rating on GTES is Hold with a factor grade of B- for Profitability and C for Growth. The average Wall Street Analysts' Rating differs with a Buy , wherein 4 out of 12 analysts see the stock as Strong Buy.

Knight-Swift Transportation ( KNX ) -4.70% . Credit Suisse downgraded multiple stocks, of which one was Knight-Swift ( KNX ) Neutral but stayed in green on Wednesday ( +1.14% ). The SA Quant Rating on KNX is Hold with a factor grade of B- for Momentum and D+ for Valuation. The rating is in contrast to the average Wall Street Analysts' Rating of Buy , wherein 11 out of 20 analysts tag the stock as Strong Buy. YTD, +4.16% .

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

J.B. Hunt Transport Services ( JBHT ) -4.43% . JBHT was another transportation services provider besides Knight-Swift which was in the decliners' list. However, YTD, J.B. Hunt's  shares have fallen -3.44% . The SA Quant Rating on JBHT is Hold , with a score of A- for Profitability and  C+ for Growth. The average Wall Street Analysts' differs with a Buy rating, wherein 11 out of 26 analysts view the stock as Strong Buy.

AAON ( AAON ) -3.45% . Tulsa, Okla.-based cooling and heating equipment maker was among the decliners for the second week in a row. However, YTD, the stock has gained +21.38% , the most among this week's worst performers. The SA Quant Rating on AAON is Hold , which is in contrast to the average Wall Street Analysts' rating of Buy .

Enovis ( ENOV ) -3.04% . YTD, the stock has risen +2.41% . The SA Quant Rating on ENOV is Hold , which differs with the average Wall Street Analysts' rating of Buy .

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