Even though the majority of the summer is over, there are still a few more weeks to enjoy. While many people are beginning to transition their outdoor spaces from summertime activities back to everyday living, others are using this time as an opportunity to recover and get ready for upcoming indoor winter activities. Regardless of which category you fall into, these final weeks of September offer the perfect opportunity to start thinking about what new machinery you might want to purchase before winter sets in. The following four pieces of equipment are essential for anyone who cherishes the outdoors and wants to continue enjoying it throughout the rest of the year.
Gates Industrial (GTES)
Ticker Symbol: GTESPercentage Gain in the Past Year: 29%Gates Industrial is a manufacturer of power transmission products, including belts and pulleys. The company has been manufacturing belts for over 100 years and is one of the largest suppliers of belts in the world. Gates is best known for producing belts for use in agriculture. The company is a leading supplier to the agriculture industry, distributing its straps to customers in more than 100 countries worldwide. Gates also has a strong presence in the mining, construction, and food and beverage industries. In terms of the company’s performance, Gates has seen strong demand for its products in recent quarters, driven partly by increased capital spending among its end-user customers. The company has also expanded its profit margins thanks to a more favorable pricing environment. Gates Industrial has been performing well since the start of the year, with shares up more than 40%.
SPX Technologies (SPXC)
Ticker Symbol: SPXCPercentage Gain in the Past Year: 56%SPX Technologies is a diversified industrial company that manufactures valves, pumps, and wear parts for various industries, including oil and gas, chemical, mining, and power. Founded in 1911, SPX is a leader in many sectors in which it operates and has approximately 25,000 employees across 28 countries.SPX performed exceptionally well in 2019 due to strong product demand and a rebound in commodity prices. In particular, the rising price of oil and Gascostelped boost demand for the company’s valves, pumps, and wear parts. The strong performance of SPX in 2019 comes after a challenging 2018 when the company struggled due to declining commodity prices.SPX Technologies has performed well since the start of the year, with shares up more than 50%.
Ticker Symbol: PHPercentage Gain in the Past Year: 27%Parker-Hannifin is a diversified industrial manufacturer that produces a wide range of products, including engineered fluids, motion and flow technologies, and aerospace components. The company’s products are used in various industries, including aerospace, power and energy, mining, chemical, and food and beverage. Parker Hannifin performed well in 2019 due to strong demand for its products and a rebound in commodity prices. In particular, the rising price of oil and gas cost drives demand for the company’s aerospace components. As a result, parker-Hannifin has performed well since the start of the year, with shares up more than 27%.
Energy Recovery (ERII)
Ticker Symbol: ERIIPercentage Gain in the Past Year: 29%Energy Recovery is a scientific process equipment manufacturer that offers equipment and services for the energy and industrial sectors. The company manufactures energy-from-waste and thermal treatment equipment, including generators, boilers, and air pollution control systems. Energy Recovery specializes in helping companies convert waste into energy and produce electricity. Energy Recovery was performing well in 2019 due to strong demand for its technology and ongoing investments from the company in research and development. In particular, rising commodity prices and increased demand for utilities due to extreme weather have helped improve the company’s revenue. As a result, energy Recovery has performed well since the start of the year, with shares up more than 29%.
The risk levels for these stocks are high, as they are all tied to the strength of the global economy. However, if any of these companies have a strong earnings report, there can be a significant rise in share price.
The fall season is here, and it’s time to start thinking about what new machinery you might want to purchase before winter sets in. These final weeks of September offer the perfect opportunity to start thinking about what new machinery you might want to purchase before winter sets in. These are four of the best machinery that you can buy today.