This one kept nagging me to buy it. When Woody posted it on his “Daily Breakout” list, that was the final straw. I bought [[TTEK]] @ 24.92, adding it to my Alpha stock positions.
Highlights:
Technical: Bullish. Triple top breakout hit at 25. Bullish price objective is 41 – 42.
S&P Sector: Industrials
Industry: Pollution Control
Investment Thesis: Q2:2008 exceeded expectations. Their backlog of projects is forecasting better results to come. TTEK is showing strong business in all of their key markets. Management’s near term guidance was increased slightly. However, they experienced a record level of bookings.
The backlog increased 39% Y-O-Y to $1.5 B.
Federal government revenue grew by 26%, State and Local by 10% and Commercial by 22%.
A key component of growth in the Commercial business was due to wind power insfrastructure projects.
Background: Tetra Tech, Inc. provides consulting, engineering, and technical services focused on water resource management and civil infrastructure.
It offers research and development, applied science and technology, engineering design, program management, construction management, and operations and maintenance services.
The company operates in three segments: Resource Management, Infrastructure, and Communications. The Resource Management segment supports high priority government programs for water quality improvement, environmental restoration, productive reuse of defense facilities, and strategic environmental resource planning. Its service offerings are focused on surface water, groundwater, waste management, project management, and regulatory compliance. The Infrastructure segment develops water infrastructure projects; institutional facilities; commercial, recreational, and leisure facilities; transportation projects; and systems and security projects. The Communications segment delivers technical solutions necessary to design and build wired communications infrastructure projects. Its services include engineering, permitting, site acquisition, and construction management services to state and local governments, telecommunications companies, and cable operators. Tetra Tech’s customer base includes federal, state, and local government agencies, as well as commercial and international clients. The company was founded in 1966 and is headquartered in Pasadena, California.
Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial advisor prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. The author may have a position in one or more stocks mentioned here. Trade at your own risk.
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