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Deere & Company (DE) - free report >>
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Enersys (ENS) Buys IBCS, Boosts Motive Power Service Offerings
EnerSys (ENS - Free Report) has recently acquired the United Kingdom (UK) based, battery service and maintenance provider Industrial Battery and Charger Services Limited (IBCS). The financial terms of the transaction were kept under wraps.
The addition of IBCS will enable ENS to bolster its motive power service offerings. This buyout will also strengthen EnerSys’ presence in the UK market and augment its comprehensive range of battery-related services including installation and maintenance to repair and replacement.
IBCS will operate under its present name and branding. Its management team is anticipated to remain unchanged. The buyout is effective immediately.
Enersys Price
Enersys price | Enersys Quote
EnerSys is likely to benefit from its solid product offerings, a firm focus on product innovation (including lithium, Touch-Safe, CPUC and DC fast charge) and strengthening demand in the quarters ahead. Its Energy Systems sales are driven by strength in broadband and data center businesses and favorable pricing actions. Robust demand in electrification and automation end markets is driving growth for the Motive Power segment. For Specialty, robust demand from Class 8 Truck OEMs is supporting the segment’s revenues.
Zacks Rank and Stocks to Consider
ENS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some top-ranked stocks from the Industrial Products sector are discussed below:
Deere & Company (DE - Free Report) presently sports a Zacks Rank of 1. DE’s earnings surprise in the last four quarters was 4.7%, on average.
In the past 60 days, estimates for Deere & Company’s fiscal 2023 earnings have increased 8.6%. The stock has rallied 1.7% in the past six months.
Alamo Group Inc. (ALG - Free Report) presently sports a Zacks Rank of 1. ALG’s earnings surprise in the last four quarters was 6.0%, on average.
In the past 60 days, estimates for Alamo’s fiscal 2023 earnings have increased 7.5%. The stock has gained 25.6% in the past six months.
A. O. Smith Corporation (AOS - Free Report) presently carries a Zacks Rank #2 (Buy). AOS’ earnings surprise in the last four quarters was 3.2%, on average.
In the past 60 days, estimates for A. O. Smith’s 2023 earnings have increased 1.2%. The stock has gained 31% in the past six months.