Yahoo Finance Dana Adds Drive and Motion Products to Its Portfolio for AWPs
Dana Incorporated DAN has revealed its broad range of drive and motion systems that can be used to produce aerial work platforms (AWPs). Launched in the Bauma China trade fair, the newly added products are under the brands — Spicer drive systems and Brevini motion systems.
Of late, rising demand for systems that comply with emission and safety standards, along with other enhanced characteristics, have created good growth prospects in the AWP market. In order to meet this rising demand, AWP manufacturers across the globe are improving their product line and total output. This offers a good opportunity for Dana as it offers a wide portfolio of drive and motion products. The company’s localized product manufacturing will help it meet the demand of local buyers in addition to export targets.
Dana is well equipped with its product portfolio that is in sync with the requirements for hybridization and electrification for several vehicle markets. The company’s series of enterprise strategies enable it to provide products with advanced hybrid and electric technologies. Apart from leveraging on its own expertise and product knowledge, Dana also undertakes acquisitions for improving its technological developments.
Dana Incorporated Price and Consensus
Dana Incorporated Price and Consensus | Dana Incorporated Quote
In July 2018, the company signed an agreement to acquire the Drive Systems segment of the Oerlikon Group. In February 2017, it completed the acquisition of power-transmission and fluid power businesses of Brevini Group, S.p.A.
Price Performance
Over the past three months, Dana’s stock has lost 28.9%, underperforming 20.6% decrease recorded by the industry it belongs to.
Zacks Rank & Key Picks
Dana currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. ALSN, Tesla, Inc. TSLA and Toyota Motor Corporation TM. Allison Transmission and Tesla currently sport a Zacks Rank #1 (Strong Buy) while Toyota carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Allison Transmission has an expected long-term growth rate of 10%. Shares of the company have increased 12.7% over the past three months.
Tesla has an expected long-term growth rate of 35%. Shares of the company have rallied 5.7% over the past three months.
Toyota has an expected long-term growth rate of 6%. Over the past month, shares of the company have gained 4.9%.
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