Earnings push Vertiv to top industrial gainer of week, dragging down losers

For the week ending April 28, the Industrial Select Sector (XLI) fell (-0.61%) and was among the five, out of the 11 S&P 500 sectors, which closed the week in red. The SPDR S&P 500 Trust ETF (SPY) gained (+0.90%) amid the First Republic Bank crisis and a busy earnings week. The coming week will see a focus on the Fed meet, where a 25 basis point hike is expected.

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +11% each this week. YTD, all these 5 stocks are in the green.

Vertiv (NYSE:VRT) +22.50%. The Ohio-based company, which provides services for data centers, saw its stock soar +11.12% on Wednesday after Q1 results beat estimates and raised its operating profit guidance.

VRT 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 A- for Growth and C- for Profitability. The average Wall Street Analysts’ Rating is Buy, wherein 6 out of 10 analysts see the stock as Strong Buy. YTD, +9.22%.

Hubbell (HUBB) +16.78%. Shares got a boost of +11.63% on Tuesday after Q1 earnings surpassed estimates and the Shelton, Conn.-based company raise its FY23 Adjusted EPS outlook.

The SA Quant Rating on HUBB is Hold with score of A for Momentum but D- for Valuation. The average Wall Street Analysts’ Rating agrees with a Hold rating of its own, wherein 6 out of 10 analysts tag the stock as such. YTD, +14.76%.

Joby Aviation (JOBY) +12.76%. The week saw the electric air taxi maker announce the extension of a contract with the U.S. Air Force and a long-term agreement with Toyota Motor.

The SA Quant Rating on JOBY is Sell with a score of D- for Profitability and C- for Momentum. Meanwhile, the average Wall Street Analysts’ is Hold, wherein 3 out of 6 analysts view the stock as Hold. YTD, +29.25%.

Carpenter Technology (CRS) +12.52%. First quarter results of the steel maker sent the stock soaring +11.80% on Thursday after Q3 results beat analysts’ expectations. YTD, the shares have gained +42.77%, the most among this week’s top five gainers. The SA Quant Rating on CRS is Hold, which is in contrast to the average Wall Street Analysts’ Rating of Buy.

The chart below shows YTD price-return performance of the top five gainers and SP500:

Arcosa (ACA) +11.86%. The Dallas-based construction products maker’s shares rose +12.66% on Friday after Q1 revenue and adjusted EPS exceeded expectations. The SA Quant Rating and the average Wall Street Analysts’ Rating, both, have a Buy rating on ACA. YTD, +24.29%.

This week’s top five decliners among industrial stocks (market cap of over $2B) all lost more than -8% each. YTD, 2 out of these 5 stocks are in the red.

ZIM Integrated Shipping Services (NYSE:ZIM) -11.32%. The Israeli shipping company was among the worst five performers for the second week in a row. The stock fell throughout the week, barring Friday. The SA Quant Rating on ZIM is Hold with a factor grade of A+ for Profitability but F for Growth. However, the average Wall Street Analysts’ Rating a Sell, wherein 4 out of 7 analysts see the stock as Hold. YTD, -0.70%.

TFI International (TFII) -9.50%. The Canadian logistics services provider’s stock slumped -11.33% on Wednesday after Q1 results could not breach estimates.

The SA Quant Rating on TFII is Buy with a factor grade of A- for Profitability and B for Momentum. The average Wall Street Analysts’ Rating concurs with a Buy rating of its own, wherein 8 out of 21 analysts tag the stock as Strong Buy. YTD, +7.54%.

The chart below shows YTD price-return performance of the worst five decliners and XLI:

FTI Consulting (FCN) -8.30%. The shares fell -8.39% on Thursday after mixed quarterly results. The Washington, D.C.-based company’s revenue surpassed estimates but the GAAP EPS missed out.

The SA Quant Rating on FCN is Buy, with a score of A for Momentum and B- for Profitability. The average Wall Street Analysts’ agrees with its own Buy rating, wherein 2 out of 3 analysts view the stock as Strong Buy. YTD, the stock has risen +13.66%, the most among this week’s top five decliners.

Hub Group (HUBG) -8.18%. The transportation and logistics services provider reported mixed results and provided a FY23 revenue outlook which was seen below expectations. The SA Quant Rating on HUBG is Hold, which differs from the average Wall Street Analysts’ Rating of Buy. YTD, -5.15%.

Old Dominion Freight Line (ODFL) -8.16%. Thomasville, N.C.-based company’s shares dipped -9.97% on Wednesday after Q1 results disappointed. But the stock picked up a bit on Friday after Deutsche Bank upgraded the shares on potential for earnings doubling. The SA Quant Rating and the average Wall Street Analysts’ rating, both, on ODFL is Hold. YTD, +12.90%.