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Industrial Select Sector SPDR Fund ETF (XLI) Gains +2.44% The SPDR S&P 500 Trust ETF (SPY) rose in the week ended July 12 +0.96%.
Joby Aviation was the top gainer, while aviation-related stocks were among the losers.
Industry is It was one of 10 of the 11 S&P 500 sectors to close in positive territory this week. Year-to-date (YTD) XLI has risen +8.94%while SPY soared +17.82%.
The top five gainers in the industrial sector (stocks with a market capitalization of more than $2B) all rose by more than +14% Each this week. Year to date, only 2 of these 5 stocks are in the green.
Joby Air (NYSE: JOBY) +28.10%. Stock price surges +19.65% On Thursday, the company said its first hydrogen-electric air taxi successfully flew 523 miles, with the only byproduct being water. YTD, -0.60%.
JOBY has a SA quantitative rating of Hold, which takes into account factors such as momentum, profitability and valuation. The stock has a profitability factor grade of B+ and a growth factor grade of D+. The average rating among Wall Street analysts is a hold rating, with three out of seven assigning a hold rating to the stock.
Plug power supply (PLUG) +18.53%. The company develops hydrogen and fuel cell product solutions, and its stock was among the solar and alternative energy stocks that rose on Thursday (+8.92%) was boosted by lower-than-expected inflation data, raising hopes that the Federal Reserve would begin cutting interest rates sooner rather than later. YTD, -31.78%.
PLUG has a SA Quantitative Rating of Sell, a Momentum Score of D-, and a Valuation Score of B. The average rating from Wall Street analysts varies with a Hold rating, with 18 out of 29 analysts giving the stock a Hold rating.
The chart below shows the top five gainers and SPY’s year-to-date price return performance:
Rocket Lab (RKLB) +15.78%. Shares of the aerospace company rose all week. YTD, +2.17%. RKLB has a SA Quantitative Rating of Hold, a Growth Score of B, and a Momentum Score of B+. The average rating from Wall Street analysts is more positive, with a Buy rating, with 7 out of 12 labeling the stock a Strong Buy.
Builder FirstSource (BLDR) +15.18%. Shares of building materials manufacturers and distributors also rose Thursday on weak inflation reports. Shares of the Irving, Texas-based company rose +7.44% Thursday. YTD, -8.51%. SA has a quantitative rating of Hold on BLDR, which contrasts with the average Buy rating from Wall Street analysts.
Aspen Aerogel (ASPN) +14.94%. Shares of the maker of airgel insulation products also rose Thursday (+7.80%). YTD, +72.62%. ASPN’s quantitative rating for SA is a Hold, which differs from the average Strong Buy rating from Wall Street analysts.
The five biggest losers this week in industrial stocks (market caps over $2B) all fell by more than -4% Each. Year to date, these 5 stocks are all in the green.
ZIM Integrated Shipping Services (New York Stock Exchange: ZIM) -22.89%. The shipping company’s share price fell the most on Thursday (-9.88%). YTD, +72.75%. ZIM has a SA Quantitative Rating of Hold, a Profitability Factor Grade of D, and a Momentum Factor Grade of A+. The average rating from Wall Street analysts was in line with this, also giving it a hold rating.
FTAI Aviation(FTAI) -7.56%. Aircraft leasing and engine repair company shares fall -8.23% On Wednesday, Wolfe Research downgraded the stock to peer perform from market outperform. Year to date, the stock has soared +110.60%
FTAI has a SA Quantitative Rating of Hold, a Growth Score of A-, and a Valuation Score of F. The average rating among Wall Street analysts is a Buy rating, with 6 out of 12 analysts calling the stock a Strong Buy.
The chart below shows the year-to-date price return performance of the five worst losers and XLI:
Delta Air Lines (DAL) -5.22%. Shares of the Atlanta-based company fell -3.99% On Thursday, second-quarter results missed expectations. Delta Air Lines also led the airline sector lower after warning of lower fare discounts. YTD, +8.43%.
DAL has a SA Quantitative Rating of Buy, a Profitability Factor Rating of A+, and a Growth Factor Rating of B-. The average Wall Street analyst rating is also positive, with a “Strong Buy” rating, with 15 out of 21 analysts calling the stock as such.
United Airlines(UAL) -4.85%. Shares of the Chicago-based company fell the most on Thursday (-3.20%). Earlier this week, a wheel fell off a Boeing 757-200 operated by United Airlines while taking off from Los Angeles. Separately, JetBlue urged the U.S. Department of Transportation to disqualify UAL from receiving one of five new round-trip flights from Washington’s Reagan National Airport. YTD, +8.39%.
SA has a “Strong Buy” quantitative rating on UAL, while Wall Street analysts’ average rating is a “Buy.”
GFL environment (GFL) -4.27%. Waste Management shares fall -1.63% BMO Capital Markets downgraded the stock to “market perform” from “outperform” on Tuesday. YTD, +9.07%. SA has a quant rating of Hold on GFL, while Wall Street analysts’ average rating is Buy.
