Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK – Free Report) from a hold rating to a buy rating in a research report report published on Tuesday.

Several other brokerages have also recently weighed in on TTEK. KeyCorp boosted their price target on shares of Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Robert W. Baird boosted their price target on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Get Our Latest Report on Tetra Tech

Tetra Tech Stock Down 0.1 %

TTEK opened at $48.83 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 9.88 and a beta of 0.94. The firm’s fifty day moving average is $47.08 and its 200 day moving average is $43.23. Tetra Tech has a fifty-two week low of $28.67 and a fifty-two week high of $50.03.

Tetra Tech (NASDAQ:TTEK – Get Free Report) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.48%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s payout ratio is 4.66%.

Insiders Place Their Bets

In other Tetra Tech news, SVP Preston Hopson III sold 25,000 shares of Tetra Tech stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of the transaction, the senior vice president now directly owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the sale, the chief executive officer now directly owns 124,380 shares in the company, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Preston Hopson III sold 25,000 shares of Tetra Tech stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the sale, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,370 shares of company stock valued at $10,880,243 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC lifted its position in shares of Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC increased its stake in shares of Tetra Tech by 4.8% during the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares during the period. GAMMA Investing LLC increased its stake in shares of Tetra Tech by 25.8% during the first quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after buying an additional 62 shares during the period. CIBC Asset Management Inc increased its stake in shares of Tetra Tech by 4.8% during the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after buying an additional 70 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Tetra Tech by 3.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock valued at $456,000 after buying an additional 75 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Company Profile

(Get Free Report)

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.

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