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 completed the takeover of the U.K. based consulting firm, WYG. Notably, Tetra Tech’s earlier offer (in May 2019) of acquiring all of the outstanding shares of WYG became effective, following which WYG shares stopped trading on the London Stock Exchange.
WYG is the provider of consulting and engineering solutions for various sectors like planning, transport, infrastructure, architecture, surveying, urban design, asset management, and international development among others. The company, which employs about 1,600 employees, has a stronghold in more than 30 countries across the U.K., Europe, Asia and Africa.
In fact, apart from extending its geographic presence, the buyout will enable Tetra Tech to strengthen its international development business, for the U.K.’s Department for International Development and the European Union. Notably, WYG’s proficiency in water and environmental services, as well as infrastructure and program management, will allow Tetra Tech to offer very comprehensive service offerings to customers.
Existing Business Scenario
Tetra Tech remains bullish about its growth across all four client sectors, namely, U.S. federal, U.S. state and local, the U.S. commercial, and finally international. Based on growth rate forecast for the U.S. federal markets, the company expects sales from these markets to grow at 5% rate for fiscal 2019.
In the past three months, the company has gained 34.7% compared with the industry’s growth of 9.1%.
In addition, Tetra Tech expects that solid opportunities across the globe will boost its international revenues. For fiscal 2019 (ending Sep 30, 2019) the company expects 10% growth rate with its international clients, particularly in Canada and the Asia Pacific region. In addition, infrastructure and industrial work in Canada, and commercial and environmental programs in the United States are likely to aid its top line.
Zacks Rank & Other Key Picks
Tetra Tech currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the Zacks Industrial Products sector are CECO Environmental Corporation , Energy Recovery, Inc. (ERII - Free Report) and Brady Corporation (BRC - Free Report) . While CECO Environmental currently sports a Zacks Rank #1 (Strong Buy), Energy Recovery and Brady carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CECO Environmental delivered a positive average earnings surprise of 25.00% in the trailing four quarters.
Energy Recovery pulled off a positive average earnings surprise of 225.00% in the trailing four quarters.
Brady pulled off a positive average earnings surprise of 9.22% in the trailing four quarters.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
Tetra Tech (TTEK) Acquires UK-Based WYG, Expands Presence
Tetra Tech, Inc. (TTEK - Free Report) recently completed the takeover of the U.K. based consulting firm, WYG. Notably, Tetra Tech’s earlier offer (in May 2019) of acquiring all of the outstanding shares of WYG became effective, following which WYG shares stopped trading on the London Stock Exchange.
WYG is the provider of consulting and engineering solutions for various sectors like planning, transport, infrastructure, architecture, surveying, urban design, asset management, and international development among others. The company, which employs about 1,600 employees, has a stronghold in more than 30 countries across the U.K., Europe, Asia and Africa.
In fact, apart from extending its geographic presence, the buyout will enable Tetra Tech to strengthen its international development business, for the U.K.’s Department for International Development and the European Union. Notably, WYG’s proficiency in water and environmental services, as well as infrastructure and program management, will allow Tetra Tech to offer very comprehensive service offerings to customers.
Existing Business Scenario
Tetra Tech remains bullish about its growth across all four client sectors, namely, U.S. federal, U.S. state and local, the U.S. commercial, and finally international. Based on growth rate forecast for the U.S. federal markets, the company expects sales from these markets to grow at 5% rate for fiscal 2019.
In the past three months, the company has gained 34.7% compared with the industry’s growth of 9.1%.
In addition, Tetra Tech expects that solid opportunities across the globe will boost its international revenues. For fiscal 2019 (ending Sep 30, 2019) the company expects 10% growth rate with its international clients, particularly in Canada and the Asia Pacific region. In addition, infrastructure and industrial work in Canada, and commercial and environmental programs in the United States are likely to aid its top line.
Zacks Rank & Other Key Picks
Tetra Tech currently carries a Zacks Rank #2 (Buy). Some other top-ranked stocks from the Zacks Industrial Products sector are CECO Environmental Corporation , Energy Recovery, Inc. (ERII - Free Report) and Brady Corporation (BRC - Free Report) . While CECO Environmental currently sports a Zacks Rank #1 (Strong Buy), Energy Recovery and Brady carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CECO Environmental delivered a positive average earnings surprise of 25.00% in the trailing four quarters.
Energy Recovery pulled off a positive average earnings surprise of 225.00% in the trailing four quarters.
Brady pulled off a positive average earnings surprise of 9.22% in the trailing four quarters.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>