We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tetra Tech, Inc. (TTEK - Free Report) recently announced that it has acquired Convergence Controls & Engineering, a Littleton, CO-based systems integration and engineering services company. However, the terms of the buyout were kept under wraps.
Convergence is a leading provider of integrated systems solutions to several sectors including power generation, manufacturing, mining, industrial agriculture and water among others. Some of the notable services provided by the company include the likes of engineering, system integration, measurement consulting and instrumentation & controls.
The transaction boosts Tetra Tech’s capabilities in the digital water and energy practices with Convergence’s expertise in advanced data analytics, customized digital controls and software solutions, cloud data integration and cybersecurity applications. This acquisition will enable TTEK to offer a comprehensive line of integrated automation platform solutions to its clients across the water and energy sectors. Convergence will be part of TTEK’s Government Services Group segment.
The company’s measures to expand product lines and market presence through successive acquisitions are noteworthy. The acquisition of LS Technologies (in February 2024) added significant additional capabilities and clients to its federal IT practice within its Government Services Group unit. Also, the RPS Group buyout (in January 2023) enhanced TTEK’s consultancy in water, environment and sustainable infrastructure, strengthening its foothold in renewable energy and environmental management.
Zacks Rank & Price Performance
Tetra Tech currently carries a Zacks Rank #2 (Buy). The company has been benefiting from strength in its Government Services Group segment, driven by higher inland navigation and coastal flood protection programs. Increased activity on clean energy and environmental services programs are aiding the Commercial/International Services Group segment.
Image Source: Zacks Investment Research
In the past three months, TTEK stock has risen 18.9% compared with the industry’s 13.4% growth.
Other Stocks to Consider
Some other top-ranked companies from the same space are discussed below.
The company delivered a trailing four-quarter average earnings surprise of 15.6%. In the past 60 days, the Zacks Consensus Estimate for Atmus Filtration’s 2024 earnings has increased 9.1%.
Fuel Tech (FTEK - Free Report) presently has a Zacks Rank #2. It has a trailing four-quarter average earnings surprise of 61.1%. The Zacks Consensus Estimate for FTEK’s 2024 bottom-line has increased 62.5% in the past 60 days.
Donaldson Company (DCI - Free Report) currently carries a Zacks Rank #2. The company delivered a trailing four-quarter average earnings surprise of 4.5%. In the past 60 days, the Zacks Consensus Estimate for Donaldson’s fiscal 2024 (ending July 2024) earnings has remained stable.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Tetra Tech (TTEK) Buys Convergence & Boosts Product Portfolio
Tetra Tech, Inc. (TTEK - Free Report) recently announced that it has acquired Convergence Controls & Engineering, a Littleton, CO-based systems integration and engineering services company. However, the terms of the buyout were kept under wraps.
Convergence is a leading provider of integrated systems solutions to several sectors including power generation, manufacturing, mining, industrial agriculture and water among others. Some of the notable services provided by the company include the likes of engineering, system integration, measurement consulting and instrumentation & controls.
The transaction boosts Tetra Tech’s capabilities in the digital water and energy practices with Convergence’s expertise in advanced data analytics, customized digital controls and software solutions, cloud data integration and cybersecurity applications. This acquisition will enable TTEK to offer a comprehensive line of integrated automation platform solutions to its clients across the water and energy sectors. Convergence will be part of TTEK’s Government Services Group segment.
The company’s measures to expand product lines and market presence through successive acquisitions are noteworthy. The acquisition of LS Technologies (in February 2024) added significant additional capabilities and clients to its federal IT practice within its Government Services Group unit. Also, the RPS Group buyout (in January 2023) enhanced TTEK’s consultancy in water, environment and sustainable infrastructure, strengthening its foothold in renewable energy and environmental management.
Zacks Rank & Price Performance
Tetra Tech currently carries a Zacks Rank #2 (Buy). The company has been benefiting from strength in its Government Services Group segment, driven by higher inland navigation and coastal flood protection programs. Increased activity on clean energy and environmental services programs are aiding the Commercial/International Services Group segment.
Image Source: Zacks Investment Research
In the past three months, TTEK stock has risen 18.9% compared with the industry’s 13.4% growth.
Other Stocks to Consider
Some other top-ranked companies from the same space are discussed below.
Atmus Filtration Technologies Inc. (ATMU - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The company delivered a trailing four-quarter average earnings surprise of 15.6%. In the past 60 days, the Zacks Consensus Estimate for Atmus Filtration’s 2024 earnings has increased 9.1%.
Fuel Tech (FTEK - Free Report) presently has a Zacks Rank #2. It has a trailing four-quarter average earnings surprise of 61.1%. The Zacks Consensus Estimate for FTEK’s 2024 bottom-line has increased 62.5% in the past 60 days.
Donaldson Company (DCI - Free Report) currently carries a Zacks Rank #2. The company delivered a trailing four-quarter average earnings surprise of 4.5%. In the past 60 days, the Zacks Consensus Estimate for Donaldson’s fiscal 2024 (ending July 2024) earnings has remained stable.