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The Industrial Select Sector (XLI) rose +0.56% for the week ending July 28, being 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) climbed +1.05% in the week, which saw the earnings season speeding up, and the Federal Reserve pushing interest rates to a 22-year high, with another 25 basis points move. However, the Fed staff is no longer forecasting a recession. Meanwhile, European Central Bank and the Bank of Japan also carried out policy rate decisions.
The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +11% each this week. YTD, 4 out of these 5 stocks are in the green.
Kanzhun (NASDAQ:BZ) +21.45%. Shares of the Beijing-based online recruitment platform rose the most on Monday +11.69%. The stock also got a boost on Friday (+7.67%) helped by a surge in Chinese stocks. BZ was the top decliner about two months but since then it has recovered some of its losses; May 26 YTD the stock was down -29.95%, compared to YTD July 28, -7.71%.
However, Kanzhun is the only stock among this week’s top gainers which is in the red YTD. The company’s shares had also seen volatility in 2022.
BZ 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 B- for Profitability and A- for Growth. The average Wall Street Analysts’ Rating differs completely with a Strong Buy rating, wherein 12 out of 17 analysts tag the stock as such.
Textron (TXT) +12.94%. The business jet maker’s stock surged +11.87% on Thursday after Q2 non-GAAP EPS beat analysts estimates and the company raised its full year outlook.
The SA Quant Rating on TXT is Hold with score of B- for Momentum and D for Valuation. The rating is in contrast to the average Wall Street Analysts’ Rating of Buy, wherein 6 out of 15 analysts tag the stock as Strong Buy. YTD, +7.88%.
The chart below shows YTD price-return performance of the top five gainers and SPY:
Boeing (BA) +12.70%. The stock surged +8.72% on Wednesday, to a 52-week high, after Q2 results supassed expectations. Meanwhile, rival Airbus faced new potential supply-chain hurdles linked to Pratt & Whitney engine woes.
BA has a SA Quant Rating of Hold with factor grade of A+ for Profitability but F for Valuation. The average Wall Street Analysts’ rating is Buy, wherein 15 out of the 25 analysts see the stock as Strong Buy such. YTD, +25.30%.
Zurn Elkay Water Solutions (ZWS) +11.38%. Milwaukee, Wis.-based company saw its stock climb +7.53% on Tuesday following second quarter results post market on Monday. YTD, the shares have surged +43.92%, the most among thiis week’s top five gainers. The SA Quant Rating on ZWS is Hold, which is in contrast to the average Wall Street Analysts’ Rating of Strong Buy.
Emcor (EME) +11.28%. Second quarter results of the construction services provider exceeded analysts expectations which sent the stock surging +6% on Thursday. The SA Quant Rating on EME is Strong Buy, while the average Wall Street Analysts’ Rating is Buy. YTD, +43.09%.
This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -9% each. YTD, only all these 5 stocks are in the green.
Hertz Global (NASDAQ:HTZ) -12.65%. The stock fell -11.65% on Thursday after the car rental company narrowly missed its Q2 revenue and adjusted EBITDA estimates.
The SA Quant Rating on HTZ is Hold with a factor grade of B- for Valuation and D for Profitability. The average Wall Street Analysts’ Rating diagrees with a Buy rating, wherein 3 out of 8 analysts see the stock as Strong Buy. YTD, +3.64%.
Alaska Air (ALK) -11.14%. Shares tumbled -9.66% on Tuesday after forecasts for full year 2023 revenue came in under expectations, despite Q2 results beaing estimates. The SA Quant Rating on the airline is Buy with score of A for Growth but C- for Momentum. The average Wall Street Analysts’ Rating has a more positive view with a Strong Buy rating, wherein 9 out of 14 analysts tag the stock as such. YTD, +12.06%.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Mueller Industries (MLI) -10.34%. The Collierville, Tenn.-based metal products maker’s stock fell -9.89% on Tuesday after Q2 revenue and EPS declined Y/Y. The SA Quant Rating on MLI is Strong Buy with factor grade of A for Profitability and B- for Growth. One Wall Street Analysts rating is Strong Buy. YTD, the stock has soared +37.92%.
Moog (MOG.A) -9.61%. The aero-defence company’s shares crashed -9.91% on Friday following mixed Q3 results. The SA Quant Rating on MOG.A is Hold, while the average Wall Street Analysts’ Rating is Buy. YTD, +13.72%.
Southwest Airlines (LUV) -9.53%. The stock fell -8.94% on Thursday after the airline warned that the recent trend of lower unit revenue and higher costs could continue. The company’s Q2 revenue beat estimates but the non-GAAP EPS number narrowly fell short of analysts’ expectations. The SA Quant Rating on LUV is Hold, while the average Wall Street Analysts’ rating is Buy. YTD, +0.09%.
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