Price Action Don’t Lie: Could Quanta Services Inc Go Down After Reaching 52-Week High?

Price Action Don't Lie: Could Quanta Services Inc Go Down After Reaching 52 Week High?

The stock of Quanta Services Inc (NYSE:PWR) hit a new 52-week high and has $35.51 target or 6.00% above today’s $33.50 share price. The 9 months bullish chart indicates low risk for the $5.08B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $35.51 price target is reached, the company will be worth $304.80M 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 717,289 shares traded hands. Quanta Services Inc (NYSE:PWR) has risen 33.22% since April 27, 2016 and is uptrending. It has outperformed by 28.00% the S&P500.

Analysts await Quanta Services Inc (NYSE:PWR) to report earnings on February, 23. They expect $0.54 earnings per share, up 100.00% or $0.27 from last year’s $0.27 per share. PWR’s profit will be $81.89 million for 15.51 P/E if the $0.54 EPS becomes a reality. After $0.51 actual earnings per share reported by Quanta Services Inc for the previous quarter, Wall Street now forecasts 5.88% EPS growth.

Quanta Services Inc (NYSE:PWR) Ratings Coverage

Out of 11 analysts covering Quanta Services Inc. (NYSE:PWR), 6 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 55% are positive. $40 is the highest target while $20 is the lowest. The $27.44 average target is -18.09% below today’s ($33.5) stock price. Quanta Services Inc. has been the topic of 23 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Stifel Nicolaus reinitiated Quanta Services Inc (NYSE:PWR) on Tuesday, January 5 with “Hold” rating. The firm has “Outperform” rating by Robert W. Baird given on Tuesday, November 15. The stock of Quanta Services Inc (NYSE:PWR) has “Neutral” rating given on Thursday, November 12 by Robert W. Baird. Maxim Group maintained the stock with “Buy” rating in Friday, May 6 report. FBR Capital maintained the shares of PWR in a report on Monday, August 10 with “Outperform” rating. FBR Capital maintained Quanta Services Inc (NYSE:PWR) on Monday, November 9 with “Mkt Perform” rating. The stock has “Buy” rating given by Stifel Nicolaus on Friday, August 5. Citigroup initiated the stock with “Neutral” rating in Friday, November 13 report. The firm earned “Neutral” rating on Monday, February 8 by UBS. Stifel Nicolaus maintained Quanta Services Inc (NYSE:PWR) rating on Friday, September 23. Stifel Nicolaus has “Buy” rating and $32.50 price target.

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.”

Another recent and important Quanta Services Inc (NYSE:PWR) news was published by Streetinsider.com which published an article titled: “Form 4 QUANTA SERVICES INC For: Nov 28 Filed by: Upperman Dorothy” on November 29, 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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