The week did not see extravagant gains among industrial stocks with Encore Wire leading the gainers, while Rocket Lab and two others in last week's top five list landed among this week's losers.
The S&P 500 snapped out of a four-week winning streak and saw six out of the 11 sectors in the S&P 500 in the red. For the week ending Aug. 19, the SPDR S&P 500 Trust ETF (SPY) was -1.16%. YTD, SPY is -11.12%. The Industrial Select Sector SPDR (XLI) also declined (-1.00%) ending four straight week of gains. YTD, XLI is -6.59%.
The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +3% each this week. However, YTD, only three out of these five stocks are in the green.
Encore Wire (NASDAQ:WIRE) +7.35%. The Texas-based company was back among the top 5 gainers after three weeks, having also slipped to be among the worst five two weeks ago. The stock gained the most on Aug. 18 (+6.84%) this week. The SA Quant Rating on the shares is Strong Buy, which takes into account factors such as valuation and profitability, among others things. The average Wall Street Analysts' Rating concurs with its own Strong Buy rating, wherein 2 out of 2 analysts tag it as a Strong Buy. YTD, WIRE is -1.70%, one of the two stocks in this week's top five which is in the red for the time period.
NV5 Global (NVEE) +5.86%. The Hollywood, Fla.-based company, which provides engineering and consulting solutions, saw its stock gaining for six trading days in a row (Aug. 10- Aug. 17). YTD, NVEE has risen +2.86%. The SA Quant Rating on the stock is Strong Buy, with Profitability having a factor grade of B and Growth with C- score. The average Wall Street Analysts' Rating is Buy, wherein 2 each tag its as Strong Buy and Buy while 3 see the stock as Hold.
The chart below shows YTD price-return performance of the top five gainers and SP500:
AeroVironment (AVAV) +4.79%. The Arlington, Va.-based drone maker won a U.S. army contract for JUMP 20 unmanned aircraft and also acquired aircraft navigation solutions provider Planck Aerosystems this week. AeroVironment was among the top five performing industrial stocks (in this segment) in H1 (+32.90%). YTD, AVAV has gained +65.44%, the most among this week's top 5 gainers. The average Wall Street Analysts' Rating for AVAV is Buy, with an Average Price Target of $96.25. The rating is in contrast to the SA Quant Rating of Hold, with Valuation having a factor grade of D- and Growth with a score of D.
FTI Consulting (FCN) +4.28%. The Washington, D.C.-based company was back among the top gainers after being among the worst five performing stocks about three weeks ago following its Q2 results. YTD, the stock has risen +11.56%. the SA Quant Rating on FTI is Hold, which differs with the average Wall Street Analysts' Rating of Strong Buy.
Aerojet Rocketdyne (AJRD) +3.81%. The California-based company gained following report that Elliott Investment Management took new stake by acquiring 3M shares in the defense system maker. The SA Quant Rating on the stock is Hold, which is in contrast to the average Wall Street Analysts' Rating of Buy. YTD, AJRD has shed -5.69%, the only other stock besides WIRE that is in the red in this period.
This week's top five decliners among industrial stocks (market cap of over $2B) all lost more than -14% each. YTD, three out of these five stocks are in the red.
Rocket Lab USA (NASDAQ:RKLB) -19.15%. The California-based launch services provider could not stem the drop in its stock despite being called a standout amongst small launch peers by Morgan Stanley which remained bullish on the stock. RKLB was among the three stocks from last week's top 5 gainers that landed among this week's decliners. The SA Quant Rating on the stock is Strong Sell, with Profitability having a factor grade of D- and Valuation with D factor grade. The average Wall Street Analysts' Rating differs with a Buy rating, wherein 4 out of 8 analysts tag it as Buy. YTD, RKLB has fallen -53.26%, the most among this week's worst five.
Enovix (ENVX) -16.22%. The Fremont, Calif.-based lithium-ion battery maker pared off some gains made in the six trading days rally (Aug. 9 -Aug. 16). For the week ending Aug. 12 the stock had soared +57.88%, however YTD, ENVX has lost -30.13%. The SA Quant Rating on the shares is Hold, with Profitability having a factor grade of D and Growth with a score of B. The rating is in contrast to the average Wall Street Analysts' Rating of Strong Buy, wherein 5 out of 6 analysts consider the stock as a Strong Buy.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Bloom Energy (BE) -16.15%. The San Jose, Calif.-based company — which provides power generation platform — ended its gaining streak of having made to the top five three weeks in a row. The stock fell the most this week on Aug. 16 -14.30% after the company began a common stock offering to raise ~$338M. The stock had gained +26.39% last week, and YTD has grown +16.46%. The Wall Street Analysts' Rating on BE is Buy, wherein 6 out of 18 analysts see it as a Strong Buy. The SA Quant Rating differs with a Hold rating, with Profitability having a factor grade of D and Valuation with a D- score.
Ballard Power Systems (BLDP) -16.05%. The Canadian fuel cell systems developer's stock fell throughout the week, the most on Aug. 19 (-8.17%). The average Wall Street Analysts' Rating for BLDP is Hold, wherein 14 out of 23 analysts backed the stock as Hold. The rating is in contrast to the SA Quant Rating of Sell, with Valuation getting a factor grade of C and Profitability with a factor grade of D-. YTD, BLDP has shed -40.05%.
Elbit Systems (ESLT) -14.13%. The Israeli aero-defense company's stock fell to its 5-week low following its Q2 earnings results. ESLT slumped throughout the week despite securing two contracts worth $240M to upgrade Main Battle Tanks for an international customer. ESLT was among the top five gainers in June and for the first six months of 2022 (in this segment). YTD, the stock has gained +20.46%, the only stock besides BE in this week's decliners' list which is in the green for this period. The SA Quant Rating and the average Wall Street Analysts' Rating, on ESLT is Hold.