Meritor, Inc. MTOR reported opening of the Eastern Canada Regional Distribution Center in Mississauga, Ontario. This marks the company's fourth distribution facility in the North American aftermarket. The new facility will cater to dealers and warehouse distributors of seven provinces.
Per management, the addition of Mississauga center shows Meritor's commitment to simplify business transactions and enhance customer satisfaction. This addition is expected to help east Canadian customers to receive their orders in shorter lead times, with mostly unchanged ordering and processing practices. Orders, which will be placed before 4 p.m. ET, will be shipped on the same day. Further, customers can opt for a product-pickup option.
The newly-added hub stocks Meritor's Aftermarket brand portfolio to cater its customers in Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Quebec.
Meritor, Inc. Price and Consensus
Meritor, Inc. Price and Consensus | Meritor, Inc. Quote
The company's three other North American distribution facilities are situated at Edmonton, Alberta, Florence, KY and Santa Fe Springs, CA. The Edmonton hub serves the western Canada aftermarket. Florence and Santa Fe Springs facilities offer services to the Eastern United States, and the U.S. warehouse distributors & dealers, respectively.
In a year's time, Meritor's stock has moved up 36.9%, outperforming 26.7% increase of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Meritor currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the auto space are Daimler AG DDAIF , Fox Factory Holding Corporation FOXF and Magna International Inc. MGA , each carrying a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
Daimler has an expected long-term growth rate of 5%. Shares of the company have risen 9.2% over the past year.
Fox Factory has an expected long-term growth rate of 11.5%. Shares of the company have risen 16% over the past year.
Magna International has an expected long-term growth rate of 8.5%. In a year's time, shares of the company have gained 48%.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fox Factory Holding Corp. (FOXF): Free Stock Analysis Report Daimler AG (DDAIF): Free Stock Analysis Report Magna International Inc. (MGA): Free Stock Analysis Report Meritor, Inc. (MTOR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research