Breaking: Is Buying Quanta Services Inc Here a Winning Strategy?

Breaking: Is Buying Quanta Services Inc Here a Winning Strategy?

The stock of Quanta Services Inc (NYSE:PWR) hit a new 52-week high and has $51.44 target or 66.00% above today’s $30.99 share price. The 6 months bullish chart indicates low risk for the $4.74B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $51.44 price target is reached, the company will be worth $3.13 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.19M shares traded hands or 44.34% up from the average. Quanta Services Inc (NYSE:PWR) has risen 32.78% since April 7, 2016 and is uptrending. It has outperformed by 28.00% the S&P500.

Quanta Services Inc (NYSE:PWR) Ratings Coverage

Out of 10 analysts covering Quanta Services Inc. (NYSE:PWR), 5 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 50% are positive. Quanta Services Inc. has been the topic of 21 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, September 23. The company was downgraded on Friday, October 2 by BB&T Capital. FBR Capital maintained it with “Mkt Perform” rating and $25 target price in Friday, May 6 report. The rating was initiated by Citigroup on Friday, November 13 with “Neutral”. The firm earned “Buy” rating on Thursday, August 6 by Maxim Group. The rating was reinitiated by Stifel Nicolaus on Tuesday, January 5 with “Hold”. On Monday, October 19 the stock rating was downgraded by Johnson Rice to “Accumulate”. The rating was downgraded by Robert W. Baird to “Neutral” on Thursday, November 12. UBS downgraded Quanta Services Inc (NYSE:PWR) rating on Monday, February 8. UBS has “Neutral” rating and $20 price target. FBR Capital maintained it with “Mkt Perform” rating and $23 target price in Monday, November 9 report.

According to Zacks Investment Research, “Quanta is a leading provider of specialty electrical contracting and maintenance services primarily related to electric and telecommunications infrastructure in North America. In addition, the Company provides electrical contracting services to the commercial and industrial markets and installs transportation control and lighting systems. Some of Quantas services include the installation, repair and maintenance of electric power transmission and distribution lines and telecommunication and cable television lines, the construction of electric substations, and the erection of cellular telephone.”

More important recent Quanta Services Inc (NYSE:PWR) news were published by: Prnewswire.com which released: “Research Reports Coverage on Industrial Goods Stocks — Quanta Services …” on November 09, 2016, also Prnewswire.com published article titled: “Quanta Services Announces Third Quarter 2016 Earnings Release & Conference …”, Nasdaq.com published: “The Zacks Analyst Blog Highlights: Cross Country, Quanta Services, SJW, Ruth’s …” on November 08, 2016. More interesting news about Quanta Services Inc (NYSE:PWR) was released by: Nasdaq.com and their article: “Quanta Services’ (PWR) Q3 Earnings In Line, View Slashed” with publication date: November 03, 2016.

PWR Company Profile

Quanta Services, Inc. (Quanta), incorporated on August 19, 1997, is a well-known provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and gas and oil industries in the United States, Canada and Australia and selected other international markets. The Firm operates through two divisions: Electric Power Infrastructure Services, and Oil and Gas Infrastructure Services. The services it provides include the design, installation, upgrade, repair and maintenance of infrastructure within each of the industries it serves, such as electric power transmission and distribution networks, substation facilities, renewable energy facilities, pipeline transmission and distribution systems and facilities, and infrastructure services for the offshore and inland water energy markets.

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