CNH Industrial Launches AGXTEND Brand For Precision Farming

CNH Industrial N.V. (NYSE:CNHI) introduced an aftermarket precision farming technology solutions brand, AGXTEND. The brand offers productivity improving precision farming technologies, which can be beneficial for the complete cropping cycle. The solutions provided by AGXTEND can be completely integrated into CNH Industrial’s agricultural brands, consisting of Case IH, STEYR and New Holland Agriculture.

Apart from CNH Industrial’s own brands, the new solution can be used by the agricultural products offered by other companies, provided technical compatibility conditions are met.

CNH Industrial’s AGXTEND products can reduce fuel consumption and usage of fertilizer and crop protection products, thus, improving the sustainability of agribusinesses. Further, its zero-chemical weed control solution through the use of electric pulses will reduce affecting farm’s environment by providing alternative sustainable agrochemicals.

CNH Industrial N.V. Price and Consensus

The brand’s products and services will be available from dealers of Case IH, STEYR and New Holland. CNH Industrial will have a phased rollout through the first quarter of 2019 across the EMEA region.

The latest brand addition — including five products — forms part of CNH Industrial’s overall precision farming solutions strategy, which aids customers to select tools per their requirement and regulate their data with opt-in logic.

In sync with the company’s approach to precision farming solutions strategy, its two brands signed an agreement with Farmers Edge. Per the agreement, Case IH and New Holland Agriculture will use Farmers Edge’s digital FarmCommand platform to offer real-time machine information. The platform will aid customers in all the key stages of the crop data cycle.

Price Performance

Over the past six months, CNH Industrial’s stock has lost 10.1%, outperforming 21.5% decrease recorded by the industry it belongs to.

Zacks Rank & Key Picks

CNH Industrial currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (NYSE:ALSN) , Tesla, Inc. (NASDAQ:TSLA) and Toyota Motor Corporation (NYSE:TM) . Allison Transmission currently sports a Zacks Rank #1 (Strong Buy) while Tesla and Toyota carry a Zacks Rank of 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 10.5% over the past six months.

Tesla has an expected long-term growth rate of 35%. Shares of the company have rallied 23.2% over the past six months.

Toyota has an expected long-term growth rate of 6%. Over the past three months, shares of the company have gained 2.5%.

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