TFII - Rocket soars to top industrial gainer of week Joby lands among losers

2023-07-22 12:35:43 ET

The Industrial Select Sector ( XLI ) closed the week ending July 21, +0.87% . Rocket took the top gainer spot but trucking companies were not behind, landing three spots among the five. Meanwhile, Joby slumped on a downgrade and earnings began to show its impact on the stocks.

XLI was among the 7 out of the 11 S&P 500 sectors, which closed the week in green. The SPDR S&P 500 Trust ETF ( SPY ) rose +0.65% .

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +10% each this week. YTD, all these 5 stocks are in the green.

Rocket Lab USA ( NASDAQ: RKLB ) +18.67% . Rocket not only retained its spot among gainers from last week but this week, it topped it. The shares gained the most on Tuesday ( +13.64% ) after the company said it successfully launched seven satellites for NASA, Space Flight Laboratory and Spire Global from Launch Complex 1 in New Zealand. The stock had also gained on Monday ( +9.02% ).

YTD, the shares have soared +98.94% , the most among this week's top five gainers. RKLB 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 B- for Growth. The average Wall Street Analysts' Rating differs with a Buy rating, wherein 4 out of 8 analysts see the stock as Strong Buy.

ArcBest ( ARCB ) +13,89% . The Fort Smith, Ariz.-based freight transportation provider was among the trucking companies' stocks that rose this week after International Brotherhood of Teamsters said Yellow failed to make its required $50M in union contributions for the month of June. ArcBest' stock shot up the most on Wednesday +9.28% .

Three weeks ago too the the trucking sector reacted to the news that Yellow Trucking Company could be heading for a bankruptcy. The SA Quant Rating on ARCB is Hold with score of A- for Momentum and C+ for Valuation. The rating is in contrast to the average Wall Street Analysts' Rating of Buy , wherein 5 out of 11 analysts tag the stock as Strong Buy. YTD, the shares have jumped +55.77% .

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

Matson ( MATX ) +12.21% . The shipping company announced its preliminary Q2 result on Thurday and forecast a Q2 EPS above estimates, which sent the shares surging on Friday ( +7.55% ).

MATX has a SA Quant Rating of Hold with factor grade of A for Profitability but F for Growth. The average Wall Street Analysts' rating agrees with a Hold rating of its own, wherein 3 out of the 3 analysts view the stock as such. YTD, +41.29%.

TFI International ( TFII ) +11.30% and Saia ( SAIA ) +10.61% . The two trucking wrapped up the top five for the week, seeing a positive impact on their shares in part due to the news about Yellow.

The SA Quant Rating on TFII and SAIA, both, is Hold , while the average Wall Street Analysts' Rating , on both, is Buy . YTD, TFI's shares have risen +21.47% , while Saia's stock has zoomed +92.06% .

This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -6% each. YTD, only 1 out of these 5 stocks is in the red.

Joby Aviation ( NYSE: JOBY ) -16.14% . The electric air-taxi maker landed the spot for the worst performer this week after being the top gainer three weeks ago. Shares slumped -15.81% on Wednesday after JPMorgan downgraded the eVTOL stock to an Underweight rating after having it slotted at Neutral.

The SA Quant Rating on JOBY Hold with a factor grade of A+ for Momentum but D- for Profitability. The average Wall Street Analysts' Rating concurs with a Hold rating of its own, wherein 2 out of 7 analysts tag the stock as such. YTD, the shares have risen +146.57% , the most among this week's worst five decliners.

Equifax ( EFX ) -10.22% . The data analytics company, which provides workforce solutions, saw its stock dip -8.89% on Thursday after Q2 results missed estimates. The SA Quant Rating on EFX is Hold with score of C for Growth but F for Valuation. The average Wall Street Analysts' Rating has a more positive view with a Buy rating, wherein 7 out of 22 analysts tag the stock as Strong Buy. YTD, +9.26% .

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

ManpowerGroup ( MAN ) -7.33% . The Milwaukee, Wis.-based staffing company reported mixed Q2 results and provided an EPS outlook for Q3 which was below estimates.

The SA Quant Rating on MAN is Hold with factor grade of C+ for Profitability but F for Growth. The average Wall Street Analysts' agrees with a Hold rating of its own, wherein 7 out of 15 analysts view the stock as such. YTD, the stock has declined -6.39% , and is the only stock among this week's decliners which is in the red for this period.

Encore Wire ( WIRE ) -7.22% . Shares of the McKinney, Texas-based wires and cables maker dipped this week but YTD, the stock has climed +18.79% . The SA Quant Rating on WIRE is Hold , which is in stark contrast to the average Wall Street Analysts' Rating of Strong Buy .

Herc Holdings ( HRI ) -6.68% . The equipment rental supplier's shares fell -6.48% on Friday after the stock took on a double downgrade from Bank of America. YTD, +1.16% . The SA Quant Rating on HRI is Hold , while the average Wall Street Analysts' rating is Buy .

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