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Why Tetra Tech (TTEK) is an Attractive Bet for Investors Now
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Tetra Tech, Inc. (TTEK - Free Report) is benefiting from its focus on providing high-end consulting, design and engineering services. Key factors, including U.S. administration priorities, U.S. infrastructure stimulus and its focus on climate change on a global basis, are supporting the company’s markets. New funding for water and environment, and administration focus are driving revenues from the U.S. Federal clients. The focus on environmental programs and sustainability is aiding U.S. commercial revenues. Factors like digital water transformation, and higher local and state funding are driving revenues from international clients.
TTEK has been strengthening and expanding its businesses through asset additions for a while. The company acquired Amyx, Inc. in January 2023. The acquisition will help TTEK expand its use of advanced data analytics, cybersecurity, digital transformation, and agile software development solutions for its government and commercial customers.
Tetra Tech’s acquisition of Piteau Associates (March 2022) enhanced its capabilities in advanced analytics to provide water-management and geotechnical solutions for its customers. The Axiom Data Science buyout in the same month strengthened the company’s advanced climate data analytics solution offerings.
Tetra Tech’s measures to reward its shareholders through share repurchases and dividend payouts are encouraging. The company paid out dividends worth $46.1 million and repurchased shares worth $200 million in fiscal 2022. In May 2022, the quarterly dividend rate was hiked 15%. Tetra Tech was left to repurchase shares worth $347.8 million, exiting fiscal 2022.
In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 (ending September, 2023) earnings has been revised 1.5% upward. In the past three months, the stock has gained 8.2%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
TTEK currently carries a Zacks Rank #2 (Buy).
Some other top-ranked companies from the Industrial Products sector are discussed below:
Image: Bigstock
Why Tetra Tech (TTEK) is an Attractive Bet for Investors Now
Tetra Tech, Inc. (TTEK - Free Report) is benefiting from its focus on providing high-end consulting, design and engineering services. Key factors, including U.S. administration priorities, U.S. infrastructure stimulus and its focus on climate change on a global basis, are supporting the company’s markets. New funding for water and environment, and administration focus are driving revenues from the U.S. Federal clients. The focus on environmental programs and sustainability is aiding U.S. commercial revenues. Factors like digital water transformation, and higher local and state funding are driving revenues from international clients.
TTEK has been strengthening and expanding its businesses through asset additions for a while. The company acquired Amyx, Inc. in January 2023. The acquisition will help TTEK expand its use of advanced data analytics, cybersecurity, digital transformation, and agile software development solutions for its government and commercial customers.
Tetra Tech’s acquisition of Piteau Associates (March 2022) enhanced its capabilities in advanced analytics to provide water-management and geotechnical solutions for its customers. The Axiom Data Science buyout in the same month strengthened the company’s advanced climate data analytics solution offerings.
Tetra Tech’s measures to reward its shareholders through share repurchases and dividend payouts are encouraging. The company paid out dividends worth $46.1 million and repurchased shares worth $200 million in fiscal 2022. In May 2022, the quarterly dividend rate was hiked 15%. Tetra Tech was left to repurchase shares worth $347.8 million, exiting fiscal 2022.
In the past 60 days, the Zacks Consensus Estimate for fiscal 2023 (ending September, 2023) earnings has been revised 1.5% upward. In the past three months, the stock has gained 8.2%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
TTEK currently carries a Zacks Rank #2 (Buy).
Some other top-ranked companies from the Industrial Products sector are discussed below:
Titan International, Inc. presently carries a Zacks Rank of 2. Its earnings surprise in the last four quarters was 49.6%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks.
In the past 60 days, TWI’s earnings estimates have increased 1.8% for 2022. The stock has gained 22.4% in the past three months.
Xylem Inc. (XYL - Free Report) presently has a Zacks Rank of 2. XYL’s earnings surprise in the last four quarters was 13.3%, on average.
In the past 60 days, Xylem’s earnings estimates have increased 0.1% for 2022. The stock has gained 25.3% in the past three months.
EnerSys (ENS - Free Report) delivered an average four-quarter earnings surprise of 2.1%. ENS presently carries a Zacks Rank of 2.
ENS’ earnings estimates have increased 0.6% for fiscal 2023 in the past 60 days. The stock has gained 24.8% in the past three months.