WABCO Holdings Inc. WBC reported that it has inked multiple business deals and long-term agreement extensions with companies across Europe, the United States and Asia-Pacific. Valued at $660 million, these deals will enable the company to maintain its global leadership in offering braking control systems for trucks, buses and trailers.
The business deals signed include various multiple braking system platforms offered by WABCO, comprising its award-winning modular braking system platform (mBSP). Also, one of the agreement's include supplying the multiple brands of three industry-leading original equipment manufacturers (OEMs) with its suite of advanced anti-lock braking systems (ABS) and electronic braking systems (EBS). WABCO will provide a set of system upgradations and new functionalities to support the OEMs and advanced driver assistance systems under these latest contracts.
Per management, the addition of new and extension of existing agreements reflects the dependability of customers on WABCO's advanced braking systems. Further, the company is also working on new technology related to braking control systems, which is expected to sustain the global automation strategies of customers across the globe.
Wabco Holdings Inc. Price and Consensus
Wabco Holdings Inc. Price and Consensus | Wabco Holdings Inc. Quote
Earlier in April, WABCO announced that it has entered into contracts, having expected cumulative incremental business of $745 million from the second quarter of 2017 to the first quarter of 2018. Out of the total contracts secured from global customers, contracts worth $502 million are earmarked from 2018 through to 2022-end.
In the past three months, WABCO's stock has lost 5.6%, outperforming 12.2% decrease recorded by the industry it belongs to.
Zacks Rank & Key Picks
WABCO currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space include PACCAR Inc. PCAR , Allison Transmission Holdings, Inc. ALSN and Fox Factory Holdings, Inc. FOXF . PACCAR carries a Zacks Rank #2 (Buy), while Allison Transmission and Fox Factory sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
PACCAR has an expected long-term growth rate of 10.8%. Over the past three months, shares of the company have gained 10.7%.
Allison Transmission has an expected long-term growth rate of 10%. Shares of the company have increased 24.2% in the past three months.
Fox Factory has an expected long-term growth rate of 16.8%. Over the past three months, shares of the company have gained 59.4%.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PACCAR Inc. (PCAR): Free Stock Analysis Report Fox Factory Holding Corp. (FOXF): Free Stock Analysis Report Wabco Holdings Inc. (WBC): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research