It's probably not a bad thing that TTEK is hiring but I personaly would not use adding staff as an indicator to gage the financial performance of a company. It's really earnings that drive the stock price. For me it's about good earnings, a solid balance sheet, and a catilyst going forward to keep the earnings coming. Good Luck.
During the last conference call they talked about the large number of 'Shovel Ready" projects they had, could they have gotten some of these? Is this why they are hiring? Will they announce these new projects at this qtrs conference call? In any case I think this company is in the perfect spot to do very well, they are already well connected with both federal and local governments which seems to be where the growth is going to be in the next few years.
I have been working for Tetra Tech for three years now and have been buying their stock for about a year. The part of the company I work for deals with government contracting, which has not been affected by the economy. In fact, I've been busier the past few months than any other time in the past few years.
Other parts of the company that deal with wind and solar energy are really taking off and their is quite a nice buzz. There has also been word that TT is in a great position for stimulus work, which was mentioned during the last call.
I believe the earnings will be good this next quarter and continue on throughout the year. Work has not slowed down with the economy, in fact it's increased. the part of the company I work for (government contracting for environmental clean up) contributes a large percent of the overall company's profits and we are doing very well.
If the rest of the company, solar/wind work, infrastructure work etc, continues to grow then TT's profits should really start to grow and with it the stock.
The company has very little debt and there is also a large back log of work, which is great for job security as well as the stock.