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Roper's (ROP) Rate Prediction Tools to be Used by Choptank

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Roper Technologies, Inc.’s ROP business unit, DAT Solutions recently announced that Choptank Transport has participated in a pilot program for trialing a new set of DAT’s truckload rate forecasting tools.

Notably, DAT’s forecasting tools help in generating rate predictions on the basis of price momentum, prevailing market conditions as well as five years of historic data. As noted, Choptank will also leverage DAT’s Market Conditions Index, a new supply and demand indicator that relies on load and truck post, searches and transaction activities.

In addition to the company’s data and analytics tools, Choptank will incorporate Book Now, an advanced load-tendering feature available in DAT Load Boards. Notably, this feature eliminates the need for managing phone calls, time-consuming negotiations and manual processes for online booking.

It’s worth mentioning that DAT’s analytics and rate forecasting tools leverage the power of DAT RateView,a strong database, worth $68 billion in annual market transactions.

Our Take

Roper has been benefiting from strength across both its network software and medical products businesses. The company’s Application Software segment has also been gaining from strength across its Aderant, Data Innovations and Strata business units. For 2020, the company anticipates organic revenues of both the Application Software, and Measurement & Analytical Solutions segments to grow in mid single digits, while that of the Network Software & Systems segment is expected to increase in mid-teens.

In the past six months, this Zacks Rank #3 (Hold) stock has lost 13.2%, narrower than the industry’s decline of 23.3%.

However, weakness in its Process Technologies segment remains a major concern for the company. For 2020, it predicts organic sales of the segment to decline in mid single digits on account of persistent softness in upstream oil & gas businesses.

Stocks to Consider

Some better-ranked stocks from the same space are Graco Inc. GGG, Tennant Company TNC and Broadwind Energy, Inc. BWEN. While Graco and Tennant sport a Zacks Rank #1 (Strong Buy), Broadwind Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Graco delivered positive earnings surprise of 0.40%, on average, in the trailing four quarters.

Tennant delivered positive earnings surprise of 26.60%, on average, in the trailing four quarters.

Broadwind Energy delivered positive earnings surprise of 10.42%, on average, in the trailing four quarters.

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