Hillphoenix, part of Dover Food Retail and Dover Corporation (DOV - Free Report) , recently unveiled its new InviroPak Horizontal Indoor Distributed Refrigeration System solution. The solution is aimed at helping food retailers reduce refrigeration costs and improve profit margins. Moreover, the solution enables food retailers to achieve lower overall cost of ownership and more efficient operations.
InviroPak's key benefits include reduction of refrigerant costs, space-saving design, delivered ready-to-install with standard connections and easy maintenance.
Notably, the solution will be used as a distributed system for larger retail stores and as a central system for smaller stores. This helps to bring down the cost of installing multiple single condensing units.
The solution is designed for indoor use and is available in multiple sizes. Its small footprint eliminates the need for a separate mechanical room inside the store and frees up valuable floor space.
Further, as soon as the solution is shipped from Hillphoenix's factory, it is ready for installation in an attractively designed cabinet. Moreover, the solution’s compressor section can be easily accessed during operation, while a smart design makes it easy to service internal components.
The Horizontal InviroPak is an addition to Hillphoenix's new Distributed Refrigeration Systems platform. In May, the platform launched the Vertical InviroPak and AdaptaPak solution.
Dover reported adjusted earnings per share from continuing operations of $1.56 for the June-end quarter. The figure improved 20% year over year as well as beat the Zacks Consensus Estimate by a penny.
Dover expects to benefit from its targeted cost-reduction initiatives this year. The company has executed restructuring programs to better align costs and operations with current market conditions through targeted facility consolidation, headcount reduction and other measures.
Dover tightened its adjusted earnings per share guidance to $5.75-$5.85 from the prior $5.65-$5.85 for 2019, thanks to encouraging first-half results. The results were backed by productivity and cost initiatives, strong demand, and solid backlogs. Further, robust order backlog owing to customers wins and execution of margin targets will likely aid third-quarter 2019 results.
Throughout 2019, impressive performance by the Engineered Systems and Fluids segments, together with strong organic growth, benefits from cost-containment actions, footprint-optimization projects, and retail refrigeration are expected to negate the impact of soft demand in the Refrigeration & Food Equipment segment.
Dover Corporation Price and Consensus
Zacks Rank & Other Stocks to Consider
Dover currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the Industrial Products sector are Unifirst Corp. (UNF - Free Report) , Albany International Corp. (AIN - Free Report) and Cintas Corp. (CTAS - Free Report) . While Unifirst and Albany International flaunt a Zacks Rank #1 (Strong Buy), Cintas carries a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Unifirst has a projected earnings growth rate of 15.17% for the current year. The stock has gained 8.6% in a year’s time.
Albany International has an estimated earnings growth rate of 32.3% for 2019. The company’s shares have rallied 8.3% in the past year.
Cintas has an expected earnings growth rate of 11.15% for the ongoing year. The stock has appreciated 25.6% over the past year.
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