Zacks Investment Research upgraded Tri-Tech Holding, Inc. (TRIT) to a Zacks Rank #1 (Strong Buy) on Apr 9, 2013.
Why the Upgrade?
Tri-Tech Holding reported its financial results for the year 2012 on Apr 1, 2013. The results were quite a disappointment as the company reported a net loss per share of 28 cents on the back of a 15% decline in total revenue and 65% increase in operating expenses.
Despite the weak financials, increase of roughly 73% in Water Resource Management System and Engineering Service segment, 64% in Industrial Pollution Control and Safety segment is worth mentioning. For 2012, management of Tri-Tech Holding aims at improving its performance in the Water, Wastewater Treatment and Municipal Infrastructure segments. Moreover, proper steps will be taken to improve the cash flow position of the company.
Talking of contract wins, the first quarter of 2013 has proven to be a great start for the year; approximately $9.6 million worth of contract was awarded to Tri-Tech Holding. We also see expansion on the cards for the company as a joint venture has been formed to develop the Indian water infrastructure market.
In the last 30 days, earnings estimate for Tri-Tech Holding has seen an upward trend. The Zacks Consensus Estimate for 2013 has gone up 28.7% to $1.39 per share.
Other Stocks to Consider
Tri-Tech Holding is a $12.9 million waste management company serving government, state-owned entities, and commercial clients in China, India, North America, and the Middle East.
Other stocks worth a look in the industry are Atlas Copco AB (AIMC), EnPro Industries, Inc. (NPO), and The Babcock & Wilcox Company (BWC), each holding a Zacks Rank #1 (Strong Buy).
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