Meritor (MTOR) Unveils Products Under The New Mach Brand

Meritor, Inc. (NYSE:MTOR) unveiled the initial set of products from its newly launched Mach value brand. The brand includes roughly 2,000 part numbers that will cater to the company’s driveline, drive axle and transmission products.

Per management, these initial products come first in the wide range of reasonably priced all-makes parts designed according to industry standards to suitably serve the purpose of end-users without compromising on the products’ quality.

The Mach driveline portfolio comprises a collection of U-joints with usage capacity for numerous applications. The portfolio’s drive axle and transmission products include gears, shafts, bearings, seals, repair kits and hardware for various commercial purposes.

Meritor, Inc. Price and Consensus

The company intends to expand its product categories under the Mach brand with an aim to provide customers with cost-effective vehicle parts.

The introduction of this new Mach brand is in line with Meritor’s M2019 multi-year strategic plan. Under this scheme, the company will focus on broadening its footprint and building value by undertaking customer-friendly initiatives.

Also, on the company’s agenda lies a target launch of 20 major products under its M2019 plan, gain new business from customers and expand its components offerings globally.

Additionally, in order to gain a competitive edge in electrical drive systems, Meritor recently invested in electrification technologies company, TransPower (Read more: Meritor Invests in TransPower to Boost EV Platform).

Price Performance

In the last three months, shares of Meritor have outperformed the industry it belongs to. The stock has gained 7% compared with the industry’s gain of 4.4% during the period.

Zacks Rank & Key Picks

Meritor carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are BorgWarner Inc. (NYSE:BWA) , BMW AG BAMXF and Navistar International Corporation (NYSE:NAV) , all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

BorgWarner has an expected long-term growth rate of 9%. In the last six months, shares of the company have been up 21.9%.

BMW has an expected long-term growth rate of 4.2%. Over a year, shares of the company have been up 5.7%.

Navistar has an expected long-term growth rate of 5%. In the last 30 days, shares of the company have been up 1.6%.

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