Colts Week 5 Stock Report: 3 Risers, 3 Fallers After Loss to Steelers

Spencer Shrader scored 16 of the Indianapolis Colts' 22 points on Sunday. That's massive for Shrader, but it's a pretty ugly reflection of where this offense is right now.

While Tyler Warren continued to establish himself as a legitimate offensive weapon, the defense had another afternoon to forget in Pittsburgh.

There weren't many bright spots in this 34-22 loss, but a few players managed to separate themselves from the rest.

Here's whose stock is rising and falling after Week 5.

Riser: Tyler Warren

Colts TE Tyler Warren (White Jersey, Number 84) is tackled by Steelers LB Payton Wilson (Black Jersey, Number 41) — Oct 11, 2026; Pittsburgh, Pennsylvania, USA; Indianapolis Colts tight end Tyler Warren (84) is tackled by Pittsburgh Steelers linebacker Payton Wilson (41) in the first quarter at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images | IMAGN IMAGES via Reuters Connect

It’s clear why Shane Steichen keeps finding ways to get Warren the ball.

The second-year TE led Indianapolis with seven catches for 83 yards, including a physical 29-yard gain, and scored the Colts' only touchdown on a one-yard run.

With Jonathan Taylor held to 45 yards on 15 carries, Warren was practically the engine of this offense. His versatility and nose for the end zone are becoming impossible to ignore.

Riser: Spencer Shrader

Colts K Spencer Shrader (White Jersey, Number 3) celebrates a field goal with LS Luke Rhodes (White Jersey, Number 46) — Oct 11, 2026; Pittsburgh, Pennsylvania, USA; Indianapolis Colts kicker Spencer Shrader (3) celebrates a succesful field goal with long snapper Luke Rhodes (46) in the first quarter against the Pittsburgh Steelers at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images | IMAGN IMAGES via Reuters Connect

I don't know how much more you can ask from this guy.

Shrader drilled all five field-goal attempts, including kicks from 57 and 56 yards, accounting for 16 of Indianapolis' 22 points and tying a franchise record.

He's now a perfect 16-for-16 on field goals this season. Every time the offense stalled, Shrader made sure the Colts walked away with something.

Riser: Sauce Gardner

Steelers WR DK Metcalf (Black Jersey, Number 4) stiff arms Colts CB Sauce Gardner (White Jersey, Number 1) — Oct 11, 2026; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers wide receiver DK Metcalf (4) stiff arms Indianapolis Colts cornerback Sauce Gardner (1) in the first quarter at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images | IMAGN IMAGES via Reuters Connect

After his ugly showing in London, Gardner needed a bounce-back performance. He delivered.

Gardner allowed just one catch for nine yards against Pittsburgh and earned a 68.2 defensive grade, via PFF.

He was outspoken about his effort last week, and you could tell making a statement mattered to him. This looked much more like the cornerback Indianapolis traded for.

Faller: Akeem Davis-Gaither

Colts DT DeForest Buckner (White Jersey, Number 99) celebrates with LB Akeem Davis-Gaither (White Jersey, Number 51) — Oct 11, 2026; Pittsburgh, Pennsylvania, USA; Indianapolis Colts defensive tackle DeForest Buckner (99) celebrates with linebacker Akeem Davis-Gaither (51) after a sack in the third quarter against the Pittsburgh Steelers at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images | IMAGN IMAGES via Reuters Connect

There's really no way to sugarcoat this one. Davis-Gaither struggled in both run defense and coverage.

He finished with seven tackles and a tackle for loss, but his 38.5 overall grade, via PFF, was the lowest on the team.

Missed tackles and receptions allowed made for a rough afternoon, and for the guy wearing the green dot, Indianapolis needs a whole lot more.

Faller: DeForest Buckner

Colts DT DeForest Buckner (White Jersey, Number 99) and company enter the field before the game — Oct 11, 2026; Pittsburgh, Pennsylvania, USA; Indianapolis Colts defensive tackle DeForest Buckner (99), defensive tackle Grover Stewart (90) and defensive tackle Jerry Tillery (94) enter the field before the game against the Pittsburgh Steelers at Acrisure Stadium. Mandatory Credit: Charles LeClaire-Imagn Images | IMAGN IMAGES via Reuters Connect

Buckner finished with six tackles, a sack and a tackle for loss. But those numbers don't tell the whole story.

He posted one of the Colts' lowest run-defense grades Sunday, and his season-long mark sits at 49.8, via PFF.

After an impressive start to the season, this felt like a step back from someone Indianapolis needs anchoring its defensive front.

Faller: Laiatu Latu

Steelers QB Aaron Rodgers (Black Jersey, Number 8) is pressured by Colts DE Laiatu Latu (White Jersey, Number 97) — Oct 11, 2026; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers quarterback Aaron Rodgers (8) throws while pressured by Indianapolis Colts defensive end Laiatu Latu (97) in the first quarter at Acrisure Stadium. Mandatory Credit: Charles LeClaire-Imagn Images | IMAGN IMAGES via Reuters Connect

Latu didn't record a tackle against Pittsburgh, and while he batted down two passes, he was once again ineffective rushing the passer.

Through five games, the former first-round pick has just one sack and 14 pressures. After 8.5 sacks last season, I expected him to take another step forward.

Instead, we're once again questioning whether Chris Ballard got enough out of a premium edge-rusher draft pick.

At 2-3, the Colts head home to face Tennessee with plenty to clean up. The offense needs to start finishing drives, and the defense desperately needs more players to step up.

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