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The week ending Dec. 16 saw the Federal Reserve raising its key rate by 50 basis points, but the agency still sees more rate increases ahead in order to combat inflation. The S&P Global U.S. composite PMI came in lower than expected in December, while import and exports prices continued to slide.
Ten out of the 11 S&P 500 sectors finishing in the red with the Industrial Select Sector SPDR (XLI) dipping (-0.98%) for the second week in a row. The SPDR S&P 500 Trust ETF (SPY) too fell (-2.55%) for the second week straight. YTD, SPY is -19.20%, while XLI is -7.29%.
The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +4% each this week. YTD, two out of these five stocks are in the green.
Azek (NYSE:AZEK) +10.57%. The Chicago-based decking and building products maker lead the industrial gainers this week but YTD, has declined -53.18%.
The SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — on AZEK is Hold. The stock has factor grade of C- for Profitability and D+ for Growth. The average Wall Street Analysts’ Rating differs with a Buy rating, wherein 12 out of 20 analysts tag the stock as Strong Buy.
Bloom Energy (BE) +7.67%. The California-based company — which provides a power generation platform — has an SA Quant Rating of 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 10 out of 30 analysts view the the stock as Strong Buy. YTD, the shares have risen +0.50%.
The chart below shows YTD price-return performance of the top five gainers and SP500:
Leonardo DRS (DRS) +7.48%. The defense products maker came in the gainers list for the second week in a row. YTD, the stock has soared +28.13%, the most among this week’s top five gainers. The one Wall Street Analyst rating for DRS is Strong Buy.
Plug Power (PLUG) +4.94%. The Latham, New York-based company leapfrogged from the decliners’ list it found itself in last week to a spot among the gainers this week. The stock gained the most on Wednesday after UBS analyst Manav Gupta started coverage of PLUG with a Buy rating citing the company’s potential in the “green hydrogen” industry. The following day, Plug announced a hydrogen supply and vehicle purchase agreement with Nikola.
However, YTD, the stock has slumped -50.34%, the most among this week’s top five gainers. The SA Quant Rating on the shares 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 Buy, wherein 16 out of 31 analysts see the stock as Strong Buy.
Installed Building Products (IBP) +4.88%. The Columbus, Ohio-based company has fallen -33.69% YTD and has an SA Quant Rating of Buy. The average Wall Street Analysts’ Rating differs with a Hold rating.
This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -9% each. YTD, four out these five stocks are in the red.
Hillenbrand (NYSE:HI) -11.61%. The Batesville, Ind.-based company’ stock fell the most on Friday -8%. A day before this, Hillenbrand said it was selling its Batesville business segment to an affiliate of LongRange Capital for $761.5M.
The SA Quant Rating on HI is Buy, with a score of B- for Profitability and A- for Momentum. The average Wall Street Analysts’ Rating is Strong Buy, wherein 2 out of 3 analysts seeing the stock as such. YTD, the shares have dipped -15.33%.
United Airlines (UAL) -10.71%. The stock lost steam on Wednesday (-6.94%) after the company said it would buy up to 200 planes from Boeing while outlining ambitious capital expenditure aims.
The SA Quant Rating on UAL is Strong Buy, with a score of B for Growth and A- for Valuation. The average Wall Street Analysts’ Rating on the stock is Buy, wherein 7 out of 20 analysts tag the stock as Strong Buy. YTD, the shares have declined -12.22%.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Amerco (UHALB) -10.17%. The Reno, Nev.-based trucking and storage service provider’s non-voting common stock UHALB has risen +1.92% YTD.
Zurn Elkay Water Solutions (ZWS) -9.98%. The Milwaukee, Wis.-based company saw its stock decline the most on Dec. 15 (-9.95%). YTD, the stock has shed -40.03%, the most among this week’s worst five performers. The SA Quant Rating on ZWS is Sell, with Profitability carrying a score of C+ and Growth D-. The average Wall Street Analysts’ Rating completely differs with a Strong Buy rating, wherein 5 out of 6 analysts view the stock as such.
NuScale Power (SMR) -9.93%. The Portland, Ore-based company, which develops light water reactor nuclear power plants, has seen its stock dip -3.19% YTD. The SA Quant Rating on SMR is Hold, while the average Wall Street Analysts’ Rating is Buy.
Image and article originally from seekingalpha.com. Read the original article here.