After Citigroup and UBS gave Quanta Services (NYSE: PWR) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Gus Richard maintained a Buy rating on Quanta Services today and set a price target of $98.00. The company’s shares closed last Thursday at $98.59, close to its 52-week high of $100.00.
According to TipRanks.com, Richard is a top 100 analyst with an average return of 34.4% and a 72.1% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Himax Technologies, and Power Integrations.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Quanta Services with a $102.00 average price target, a 4.8% upside from current levels. In a report issued on April 23, UBS also maintained a Buy rating on the stock with a $107.00 price target.
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Based on Quanta Services’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.91 billion and net profit of $170 million. In comparison, last year the company earned revenue of $3.11 billion and had a net profit of $118 million.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PWR in relation to earlier this year.
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Quanta Services, Inc. engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. It also focuses on the design, installation, upgrade, repair, and maintenance of infrastructure within each of the industries it serves. It operates through the Electric Power Infrastructure Services, and Pipeline and Industrial Infrastructure Services segment. The Electric Power Infrastructure Services segment provides network solutions to customers in the electric power industry. The Pipeline and Industrial Infrastructure Services segment offers infrastructure solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products. The company was founded by Kevin D. Miller, Steven P. Colmar, William G. Parkhouse and John R. Colson on August 19, 1997 and is headquartered in Houston, TX.