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The Industrial Select Sector SPDR (XLI) ended its two week losing streak and finished the week ending Dec. 23 in the green (+0.30%). XLI was among the six, out of the 11 S&P 500 sectors which rounded up the week seeing gains.
However, the SPDR S&P 500 Trust ETF (SPY) fell (-0.09%) for the third week in a row as investor sentiment remained dampened. Money manager Sarat Sethi noted that a weak 2022 will likely close with rounds of tax selling and window dressing. Meanwhile, there were some positive signs for the economy as Q3 GDP growth was revised upward to 3.2%, partly due to stronger consumer spending. YTD, SPY is -19.38% while XLI is -7.01%.
The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +6% each this week. YTD, three out of these five stocks are in the green.
Leonardo DRS (NASDAQ:DRS) +8.95%. The Arlington, Va.-based defense products maker has been on a gaining streak and made it to the gainers list for the third week straight, this time topping it. YTD, the shares have risen +39.60%, the most among this week’s top five gainers. The one Wall Street Analyst rating for DRS is Strong Buy.
MSA Safety (MSA) +8.27%. The safety products developer saw its stock rise throughout the week. The Pennsylvania-based company has an SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Hold. The stock has factor grade of B- for Profitability and D- for Growth. The average Wall Street Analysts’ Rating differs with a Buy rating, wherein 2 see it as Hold and 1 tags it as Strong Buy. YTD, the stock has dipped -6.82%.
The chart below shows YTD price-return performance of the top five gainers and SP500:
Mexican airport service providers Grupo Aeroportuario del Centro Norte (OMAB) +8.05% and Grupo Aeroportuario del Sureste (ASR) +7.29% came in third and fourth, respectively on the table.
YTD, OMAB has soared +32.32% and has an SA Quant Rating of Strong Buy, with a score of B for Valuation and B+ for Momentum. The average Wall Street Analysts’ Rating on the stock is Buy, wherein 3 out of 8 analysts view the stock as Strong Buy.
Meanwhile, ASR has gained +24.53% YTD and too has an SA Quant Rating of Strong Buy, with a score of A for Profitability and A- for Momentum. The average Wall Street Analysts’ Rating is also similar to OMAB and is a Buy for ASR, wherein 4 out of 10 analysts tag the stock as Strong Buy.
Embraer (ERJ) +6.90%. The Brazilian aircraft maker may have gained this week but YTD has slumped -38.03%, the most among this week’s top five gainers. The SA Quant Rating of on the shares is Hold, which is in contrast to 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 -7% each. YTD, all these five stocks are in the red, with two of them having lost ~50% in this period.
Bloom Energy (NYSE:BE) -15.93%. The San Jose, Calif.-based company swapped places from the gainers’ list it was in last week to top the decliners’ chart as the stock fell throughout the week. The power generation platform provider has seen its shares dip -15.50% YTD. BE has SA Quant Rating of Hold, with factor grade of A for Growth but D+ for Valuation. The average Wall Street Analysts’ Rating differs with a Buy rating, wherein 10 out of 23 analysts tag the stock as Strong Buy.
Plug Power (PLUG) -11.98%. The Latham, New York-based company has been switching back and forth between gainers and losers in last three weeks. The stock was among the top five gainers last week but was among the worst five performers two weeks ago. The stock fell the most on Monday (-7.92%) this week.
YTD the shares have declined -56.29%, the most among this week’s worst five. The SA Quant Rating on PLUG is Sell, with a score of F for Profitability and D- for Momentum. The average Wall Street Analysts’ Rating differs completely with a Buy rating, wherein 16 out of 31 analysts view the stock as Strong Buy.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Avis Budget (CAR) -8.83%. The Parsippany, N.J.-based car rental company was back in the losers’ list after two weeks and YTD has lost -22.16%. CAR was the top performing industrial stock of 2021 +455.95% (in this segment). The SA Quant Rating on CAR is Hold, with a score of A- for Valuation and C for Momentum. 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.
Frontier Group (ULCC) -8.25%. The Denver-based airline has tumbled -22.99% YTD but has an SA Quant Rating of Buy, with a score of D+ for Profitability and B- for Growth. The average Wall Street Analysts’ Rating concurs with a Buy tag as well, wherein 7 out of 12 analysts view the stock as Strong Buy.
Joby Aviation (JOBY) -7.46%. The Santa Cruz, Calif.-based electric air taxi maker too was back among the decliners’ after tow weeks like Avis. YTD, the stock has slumped -54.11%. The SA Quant Rating on the shares is Hold, which differs with the average Wall Street Analysts’ Rating of Buy.
