The Goodyear Tire & Rubber Company (GT - Free Report) announced that it has agreed to acquire Dorsten, Germany-based automated tire inspection technology company Ventech Systems GmbH from Grenzebach Maschinenbau GmbH. The acquisition is in sync with Goodyear’s strategy of focusing on innovation and a connected business model. This acquisition is likely to bolster the Akron, OH-based global tire manufacturing company’s mobile tire and fleet management solutions capabilities.
Founded in 2006, Ventech Systems offers innovative measuring devices for the car market. Its fully automated tire inspection system can easily check tire pressure and vehicle weight. In recent years, the Goodyear Proactive Solutions business of Goodyear has worked with Ventech Systems to incorporate its technological and analytical capabilities into its fleet management solutions. Upon closure of the acquisition, which is expected to be in the fourth quarter, Ventech Systems will be included in Goodyear Proactive Solutions’ business.
For Ventech Systems, Goodyear’s market presence presents huge growth opportunities. With unique technology, the company can support Goodyear's fleet customers through efficiency, process optimization, efficiency and safety.
Goodyear’s shares have outperformed the industry it belongs to in the past six months. During this time frame, shares of the company declined 8.6%, whereas the industry decreased by 10.2%.
Currently, Goodyear carrries a Zacks Rank #4 (Sell).
A few top-ranked automobile stocks are Toyota Motor Corporation (TM - Free Report) , Daimler AG and Volkswagen AG . While Toyota and Daimler sport a Zacks Rank #1 (Strong Buy), Volkswagen carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has a long-term growth rate expectation of 7%.
Daimler has an expected long-term earnings growth rate of 2.8%
Volkswagen has an expected long-term earnings growth rate of 8.9%
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Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The Goodyear Tire & Rubber Company (GT - Free Report) announced that it has agreed to acquire Dorsten, Germany-based automated tire inspection technology company Ventech Systems GmbH from Grenzebach Maschinenbau GmbH. The acquisition is in sync with Goodyear’s strategy of focusing on innovation and a connected business model. This acquisition is likely to bolster the Akron, OH-based global tire manufacturing company’s mobile tire and fleet management solutions capabilities.
Founded in 2006, Ventech Systems offers innovative measuring devices for the car market. Its fully automated tire inspection system can easily check tire pressure and vehicle weight. In recent years, the Goodyear Proactive Solutions business of Goodyear has worked with Ventech Systems to incorporate its technological and analytical capabilities into its fleet management solutions. Upon closure of the acquisition, which is expected to be in the fourth quarter, Ventech Systems will be included in Goodyear Proactive Solutions’ business.
For Ventech Systems, Goodyear’s market presence presents huge growth opportunities. With unique technology, the company can support Goodyear's fleet customers through efficiency, process optimization, efficiency and safety.
Goodyear’s shares have outperformed the industry it belongs to in the past six months. During this time frame, shares of the company declined 8.6%, whereas the industry decreased by 10.2%.
Currently, Goodyear carrries a Zacks Rank #4 (Sell).
A few top-ranked automobile stocks are Toyota Motor Corporation (TM - Free Report) , Daimler AG and Volkswagen AG . While Toyota and Daimler sport a Zacks Rank #1 (Strong Buy), Volkswagen carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has a long-term growth rate expectation of 7%.
Daimler has an expected long-term earnings growth rate of 2.8%
Volkswagen has an expected long-term earnings growth rate of 8.9%
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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