vitpho/iStock via Getty Images
The week, which ended on February 10, saw the SPDR Select Industrial Sector (XLI) end the week in the red (-0.69%). XLI was among 10 of 11 sectors in the S&P 500 that closed the week with losses ending a good streak seen in recent weeks. ArcBest was the top industrial gainer (in our segment), but its XPO peer was not so lucky and was dragged into the worst performing stock of the week following its earnings results.
The SPDR S&P 500 Trust ETF (SPY) fell -1.05% for the week, as market sentiment dimmed over future moves by the Federal Reserve on rate hikes. While Fed Chairman Jerome Powell calmed markets a bit on Tuesday by noting that “the disinflation process” had started but would take time, later in the week some Fed speakers warned that more would be needed. rate hikes to combat inflation.
The top five gainers in the industrial sector (stocks with a market capitalization of more than $2 billion) earned more than +6% each this week.
best bow (NASDAQ:ARCB) +16.26%. ArcBest shares soared on Tuesday (+17.38%) amid M&A speculation after the CEO of TFI International (TFII) considered some M&A possibilities, speaking particularly positively of the Fort Smith, Arkansas-based freight forwarding provider.
ARCB has an SA Quant Rating, which takes into account factors such as Momentum, Profitability and Valuation, among others, of Hold. The stock had a factor rating of B+ for Profitability but F for Growth. The average Wall Street analyst rating differs from the Buy rating, in which 4 out of 10 analysts view the stock as a Strong Buy.
Maximum (MMS) +12.14. Shares of the business process services provider rose on Thursday (+9.30%) after first-quarter results topped analysts’ estimates. The SA Quant Rating on MMS is Hold, scoring A- for Momentum but D for Valuation. The rating contrasts with the average Buy rating of Wall Street analysts, where 2 out of 2 analysts view stocks the same way.
nElectric ventilation (NVT) +10.73%. UK shares of nVent also benefited from a healthy earnings report on Tuesday (+7.42%) which saw earnings per share and non-GAAP revenue beat analyst estimates. The SA Quant rating on NVT is also Hold, with a score of D+ for growth and D- for valuation.
International Seaways (INSW) +7.81%. The New York-based shipping company has an average Strong Buy rating from Wall Street analysts, which contrasts with SA Quant’s Hold rating.
Moog (MOG.A) +6.83%. Shares of the maker of flight control systems rose during the week. The SA Quant rating on MOG.A and the Average Wall Street Analyst Rating both have a hold rating of their own.
This week’s top five decliners among industrial stocks (market capitalization over $2 billion) lost more than -10% each.
XPO (New York Stock Exchange:XPO) -18.64%. Shares of the logistics company plunged on Thursday (-13.96%) the most after the fourth-quarter results on Wednesday after the market. Shares of the Greenwich, Connecticut-based company continued to take a hit on Friday after Wells Fargo and Jefferies cut their ratings on XPO amid concerns about pricing and looming challenges in the first quarter.
The SA Quant rating on XPO is Hold with a score of B+ for Profit but F for Growth. Wall Street analysts’ average rating differs with a Buy, with 9 of 21 analysts viewing the stock as a Strong Buy.
Border Group (ULCC) -15.70%. Shares of the airline plunged on Thursday (-14.85%) after fourth-quarter revenue of $906 million fell short of expectations. The airline also reported 8.67 billion available seat miles, below the estimate of 8.81 billion.
The SA Quant rating in ULCC is Hold, with a score of B- for Momentum and B for Valuation. The rating contrasts with Wall Street analysts’ Average Buy Rating, in which 7 out of 12 analysts label the stock a Strong Buy.
Oshkosh (OSK) -14.55%. The specialty vehicle maker lost an $8.6 billion US Army contract to AM General, sending shares tumbling. -10.81% on Friday.
SA Quant Rating on OSK is Hold, with a score of C for Profitability and B+ for Growth. Wall Street analysts’ average rating differs from the Buy rating, in which 4 of 19 analysts view the stock as a Strong Buy.
Power plug (plug) -11.62%. Shares of the Latham, New York-based company were down for the week except for Friday, when they were flat, and Monday (-5.18%). The SA Quant rating on PLUG is Hold, while the average Wall Street analyst rating is Buy.
Front Air (FWRD) -10.86%. The transportation and logistics company’s fourth-quarter results did not beat the estimates of analysts who saw the shares fall. -14.33% Thursday. The SA Quant rating on FWRD is Hold, which differs from Wall Street analysts’ average Buy rating.