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Tetra Tech (TTEK) Wins Security Support Contract from FAA

Zacks

Pasadena-based Tetra Tech Inc. TTEK recently secured a hazardous materials and security support contract from the Federal Aviation Administration (FAA). The deal not only boosts the company’s organic growth path, but will also help the FAA improve its secure and safe civil aviation services.

However, the news failed to evoke any positive investor sentiment for the stock, as its shares traded nearly flat following the deal’s announcement.

Dismal pricing conditions prevailing in the oil and gas market might continue to hurt Tetra Tech’s financials in the quarters ahead. However, the company is poised to grow on the back of disciplined cost management, robust backlogs, new contracts and strategic capital deployment moves.

Over the last three months, shares of this Zacks Rank #3 (Hold) stock yielded a return of 12.03%, outperforming 7.59% growth recorded by the Zacks categorized Pollution Control Equipment/Services industry.


Inside the Headlines

FAA’s Office of Security and Hazardous Materials Safety (ASH) awarded the contract to Tetra Tech for offering specific cybersecurity and technical services (related to intelligence activities, contingency planning, emergency operations and organizing secured transit of hazardous materials in air commerce). In addition, Tetra Tech will help the FAA efficiently manage the tracking systems of hazardous materials.

ASH looks into the critical-infrastructure and security aspects of aviation. It also collaborates with several Federal agencies for handling matters related to national security, which have a direct link to aeronautics. On the back of the contract offered to Tetra Tech, ASH will be able to enhance the quality of aviation via facility security, personnel security and hazardous materials safety.

The maximum ceiling value of the contract is estimated to be $77 million.

Stocks to Consider

A few better-ranked stocks in the industry are listed below:

Apogee Enterprises, Inc. APOG has an average positive earnings surprise of 3.42% for the last four quarters and currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Deere & Company DE also sports a Zacks Rank #1 and has an average positive earnings surprise of 70.41% for the past four quarters.

AGCO Corporation AGCO, which also boasts a Zacks Rank #1 at present, has an average positive earnings surprise of 40.39% for the trailing four quarters.

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