Back to top

Image: Bigstock

ABB's Business Unit Unveils Distribution Center in Phoenix

Read MoreHide Full Article

ABB Installation Products, a business unit under ABB Ltd’s (ABB - Free Report) Electrification segment announced the opening of its West Coast Distribution Center in Phoenix, AZ. This 400,000-sq.ft. distribution center is expected to expand the company’s operations in the Western United States, enabling it to better serve customers.

Yesterday, the company’s share price increased 2.1% to eventually close at $22.16.

The new distribution center — which is expected to be entirely functional during the third quarter of this year — recently commenced shipments. Notably, this facility will facilitate faster delivery of a wide range of the company’s necessary electrical products, including the likes of Ty-Rap cable ties, Color-Keyed lugs, and Steel City commercial boxes and fittings. The facility will house in excess of 2,000 products from across the overall portfolio of ABB Installation Products.

The launch of the distribution center is in sync with the company’s expansion strategy to grow volume capacity along with boosting its speed and service capabilities. It is worth noting here that the addition of its distribution center will help in generating more than 100 job opportunities in the Phoenix area.

ABB, with a $47.9-billion market capitalization, currently carries a Zacks Rank #4 (Sell). The coronavirus outbreak-led market downturn and the volatile oil market will likely affect the company’s near-term operating results. Also, persistent weakness in the Robotics & Discrete Automation segment remains a major concern for the company.

In the past six months, the stock has lost 8% compared with the industry’s decline of 13.9%.


Stocks to Consider

Some better-ranked stocks from the same space are II-VI Incorporated (IIVI - Free Report) , AZZ Inc. (AZZ - Free Report) and Energous Corporation (WATT - Free Report) . While II-VI currently sports a Zacks Rank #1 (Strong Buy), AZZ and Energous carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

II-VI has a trailing four-quarter positive earnings surprise of 52.08%, on average.

AZZ delivered a positive earnings surprise of 6.17%, on average, in the trailing four quarters.

Energous has a trailing four-quarter positive earnings surprise of 5.69%, on average.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

In-Depth Zacks Research for the Tickers Above

Normally $25 each - click below to receive one report FREE:

ABB Ltd (ABB) - free report >>

AZZ Inc. (AZZ) - free report >>

IIVI Incorporated (IIVI) - free report >>

Energous Corporation (WATT) - free report >>

Published in