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Cintas Corporation (CTAS) - free report >>
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Cintas Corporation (CTAS) - free report >>
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Broadwind Energy to Buy Red Wolf, Boost Inorganic Growth
Premium industrial products company, Broadwind Energy, Inc. (BWEN - Free Report) recently declared that it would acquire Red Wolf Company, LLC (Red Wolf), for an undisclosed amount. The transaction is currently subject to definitive agreements’ execution and would likely close on Feb 1, 2017.
Over the last one year, shares of this Zacks Rank #3 (Hold) stock recorded a return of 80.27% – outperforming 36.61% return provided by the Zacks categorized Machinery-General Industrial industry.
Inside the Headlines
Red Wolf is a privately owned kitter, fabricator and assembler of industrial systems, chiefly assisting the worldwide gas turbine market. The company offers its services primarily in the after-market space, where it supports massive global installed base of utility-scale natural gas-fired turbines.
The Red Wolf buyout is likely to expand Broadwind Energy’s market reach across different geographies and boost its existing customer relationships. Moreover, the move would diversify and reinforce the company’s existing product portfolio, moving ahead.
Broadwind Energy would be conducting Red Wolf’s operations in Sanford, North California.
Over the last 60 days, the Zacks Consensus Estimate for the stock remained unchanged for both 2016 and 2017.
Stocks to Consider
Here are some stocks within the industry that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:
Cintas Corporation (CTAS - Free Report) , with an Earnings ESP of +0.94%, and a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fairmount Santrol Holdings Inc. , with an Earnings ESP of +11.11%, and a Zacks Rank #2.
Greif, Inc. (GEF - Free Report) , with an Earnings ESP of +8.00%, and a Zacks Rank #2.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>