Vladimir Zapletin
The Industrial Select Sector (XLI) ended its two week losing streak to finish the week ending March 24 in the green (+0.24%).
The SPDR S&P 500 Trust ETF (SPY) also gained (+1.48%) amid a lingering banking crisis and a week which saw the Federal Reserve hike its key lending rate by 25 basis points while noting that additional policy firming could come. Meanwhile, February Durable Goods Orders fell 1.0% M/M, dropping for three of the last four months.
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, only 2 out of these 5 stocks are in the green.
Worthington Industries (NYSE:WOR) +20.34%. The Ohio-based steel maker’s stock soared on Thursday (+15.45%) after Q3 results beat analysts estimates.
WOR has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Strong Buy. The stock has a factor grade of C+ for both Profitability and Growth. The rating is in contrast to the average Wall Street Analysts’ Rating of Hold, wherein 3 out of 3 analysts see the stock as such. YTD +26.17%.
Kanzhun (BZ) +9.81%. The Beijing-based online recruitment platform leapfrogged from the top decliner spot it found itself in two weeks ago to land a spot among the gainers. The week saw Kanzhun report its Q4 results surpassing estimates and announce a $150M stock buyback plan. Kanzhun’s stock had seen volatility throughout 2022, while YTD in 2023 the stock is -3.83%.
The SA Quant Rating on BZ is Hold with score of C- for Momentum and D for Valuation. The average Wall Street Analysts’ Rating differs with a Strong Buy rating, wherein 9 out of 13 analysts tag the stock as such.
Chart Industries (GTLS) +8.40%. Chart, which makes cryogenic equipment for gas and clean energy markets, also bounced back from being top decliner from last week to be among the gainers this time around. The stock the gained the most on Tuesday (+10.01%).
The SA Quant Rating on GTLS is Sell with a score of F for Profitability and D for Momentum. The rating is in complete contrast to the average Wall Street Analysts’ Rating of Strong Buy, wherein 13 out of 16 analysts view the stock as Strong Buy. YTD, -3.16%.
The chart below shows YTD price-return performance of the top five gainers and SP500:
Carpenter Technology (CRS) +6.80%. The Philadelphia-based specialty metals maker gained the most on Monday (+5.11%). YTD, CRS is +10.99% and is the only stock, besides WOR, among this week’s top five to be in the green for this period. The average Wall Street Analysts’ Rating on CRS is Buy, while the SA Quant Rating is Hold.
Bloom Energy (BE) +6.59%. Solar energy related stocks, including Bloom gained on Tuesday, recovering some of last week’s losses stemming from worries that Silicon Valley Bank’s bankruptcy could hurt the clean energy industry. Bloom rose +6.57% on Tuesday, however, YTD the stock has dipped -4.39%.
The SA Quant Rating on BE is Hold, which differs with the 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 -4% each. YTD, 2 out of these 5 stocks are in the red.
Acuity Brands (NYSE:AYI) -7.31%. The lighting solutions provider may have taken the top decliner spot this week but YTD is still in the green (+1.95%). The SA Quant Rating on AYI is Hold with a score of B+ for Profitability and C- for Growth. The average Wall Street Analysts’ Rating differs with a Buy rating, wherein 3 out of 8 analysts tag the stock as Strong Buy.
U-Haul Holding (UHAL) -4.86%. The Reno, Nev.-based moving and storage operator has seen its stock slip -10% YTD. The SA Quant Rating on UHAL is Hold, with a score of B+ for Valuation and C+ for Momentum.
The chart below shows past 6-month price-return performance of the worst five decliners and XLI:
Pool (POOL) -4.86%. The swimming pool equipment distributor, based out of Covington, Louisiana, is among the three out of the five stocks in this week’s decliners which are in green. YTD, +7.57%. The SA Quant Rating on POOL is Hold, with a score of A for Profitability and C for Growth. The average Wall Street Analysts’ Rating differs with a Buy rating, wherein 4 out of 11 analysts see the stock as Strong Buy.
RXO (RXO) -4.71% took the fourth spot while the company from which the trucking services provider spun-off, XPO (XPO) -4.61% landed the fifth spot among this week’s decliners. YTD, RXO has had a better run, rising +8.26%, while XPO has declined -8.68%.
The average Wall Street Analysts’ Rating on RXO is Hold with no Quant Rating yet. Meanwhile, the SA Quant Rating on XPO is Sell, and the average Wall Street Analysts’ Rating is Buy.