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Star Bulk Carriers Corp. (SBLK) - free report >>
Westinghouse Air Brake Technologies Corporation (WAB) - free report >>
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Wabtec (WAB) Buys ARINC Rail Solutions, Expands in US & Canada
Wabtec Corporation (WAB - Free Report) has acquired Collins Aerospace’s ARINC rail solutions business segment for an undisclosed sum. ARINC rail solutions is a provider of rail dispatch and back-office solutions.
The transaction expands Wabtec’s digital and electronics portfolio, and enhances productivity, safety, and efficiency across the global rail network. The acquisition helps WAB expand across the United States and Canada, and offer support for transit, regional, inter-city, commuter, subway and light rail systems through ARINC’s rail solutions business.
Through ARINC’s RailwayNet product, Wabtec will be able to provide connectivity to the Interoperable Train Control Federated Network, supporting Positive Train Control messaging.
Westinghouse Air Brake Technologies Corporation Price
Westinghouse Air Brake Technologies Corporation price | Westinghouse Air Brake Technologies Corporation Quote
Nalin Jain, president of Wabtec’s Digital Electronics business said, "ARINC’s rail solutions systems, coupled with Wabtec’s digital and electronics portfolio, will accelerate the industry’s journey of rail optimization." Jain added, "Our combined technologies will optimize the rail network and deliver a rail ecosystem with increased productivity, efficiency and safety."
Wabtec’s measures to expand its operations should aid its top line. In January, the company acquired the railway friction business from India-based MASU for approximately $34 million. The buyout is expected to strengthen Wabtec’s installed base and expand its brake product portfolio.
Zacks Rank & Key Picks
Wabtec carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Transportation sector are as follows:
Star Bulk Carriers (SBLK - Free Report) carries a Zacks Rank #2 (Buy). The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 7.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Star Bulk have gained more than 19% in a year.
Golar LNG Limited (GLNG - Free Report) carries a Zacks Rank #2. The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 42.1%.
Shares of Golar LNG have rallied more than 72% in a year.