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The Industrial Select Sector (XLI) fell -0.96% for the week ended June 14, while, the SPDR S&P 500 Trust ETF (SPY) rose +1.64%.
XLI was among the 7 of the 11 S&P 500 sectors which ended the week in the red. Year-to-date, or YTD, XLI has climbed +6.28%, while SPY has surged +14.19%.
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, 4 out of these 5 stocks are in the green.
Enovix (NASDAQ:ENVX) +16.41%. Shares of the lithium-ion battery maker jumped the most on Monday, +8.68%. YTD, -2.56%.
ENVX 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 D- for Profitability and A for Growth. The average Wall Street Analysts’ Rating differs and has a Strong Buy rating, wherein 10 out of 13 analysts tag the stock as such.
RB Global (RBA) +10.06%. The stock rose the most on Monday +8.85%. The company, which provides a marketplace for buying and selling vehicles, is set to join the S&P MidCap 400. YTD, +19.60%. The SA Quant Rating on RBA is Hold with a score of B+ for Momentum and F for Valuation. The average Wall Street Analysts’ Rating is more positive with a Buy rating, wherein 5 out of 9 analysts see the stock as such.
The chart below shows YTD price-return performance of the top five gainers and SPY:
Lennox International (LII) +7.44%. The Richardson, Texas-based company, which makes heating and cooling products, saw its stock climb the most on Wednesday +5.50%. YTD, +19.32%.
The SA Quant Rating on LII is Hold with a score of B for Growth and A+ for Momentum. The average Wall Street Analysts’ Rating disagrees and has a Buy rating, wherein 7 out of 20 analysts view the stock Strong Buy.
Rentokil Initial (RTO) +7.13%. Shares of British pest-control company soared +13.74% on Wednesday following a report (post market Tuesday) that activist investor Nelson Peltz’s Trian Fund Management has taken a sizeable stake. YTD, +1.40%. The SA Quant Rating on RTO is Sell, which is in contrast to the average Wall Street Analysts’ Rating of Buy.
UL Solutions (ULS) +6.51%. The safety science services provider’s stock rose the most on Wednesday +5.13%. YTD, +18.49%. The average Wall Street Analysts’ Rating on ULS is Buy.
This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -6% each. YTD, 2 out of these 5 stocks are in the red.
MSC Industrial Direct (NYSE:MSM) -11.12%. Shares of the company, which distributes metalworking and maintenance products, tumbled -10.42% on Friday after reporting disappointing preliminary third quarter results and lowering full-year guidance for FY 2024. YTD, -25.10%.
The SA Quant Rating on MSM is Hold, with a factor grade of B for Profitability and D+ for Momentum. The average Wall Street Analysts’ Rating differs and has Buy rating, wherein 3 out of 10 analysts view the stock as Strong Buy.
ATI (ATI) -8.55%. The specialty materials maker saw its stock dip the most on Friday -6.58%. YTD, +17.33%. The SA Quant Rating on ATI is Buy, with a score of B+ for Growth and D+ Valuation. The average Wall Street Analysts’ Rating is also positive and has a Strong Buy rating, wherein 7 out of 9 analysts tag the stock as Strong Buy.
The chart below shows YTD price-return performance of the worst five decliners and XLI:
Star Bulk Carriers (SBLK) -7.08%. The Greek shipping company’ shares were among the shipping stocks which were under pressure this week. The stock fell the most on Friday -4.38%. YTD, +11.81%. The SA Quant Rating on SBLK is Buy, with a factor grade of A+ for both Profitability and Growth. The average Wall Street Analysts’ Rating concurs and has a Strong Buy rating, wherein 4 out of 6 analysts see the stock as such.
Plug Power (PLUG) -6.90%. YTD, shares of the company, which develops hydrogen and fuel cell product solutions, have slumped -40%. The SA Quant Rating on PLUG is Strong Sell, while the average Wall Street Analysts’ Rating is Hold.
Carpenter Technology (CRS) -6.82%. The Philadelphia-based specialty metals maker’s stock was impacted the most on Friday -7.25%. YTD, +37.13%. The SA Quant Rating on CRS is Hold, while the average Wall Street Analysts’ Rating is Buy.