StockNews.com Downgrades Tetra Tech (NASDAQ:TTEK) to Hold

by · The Markets Daily

Tetra Tech (NASDAQ:TTEK – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other analysts have also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird boosted their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, KeyCorp boosted their target price on shares of Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.16.

Check Out Our Latest Stock Analysis on Tetra Tech

Tetra Tech Trading Up 0.7 %

NASDAQ TTEK opened at $47.10 on Monday. Tetra Tech has a fifty-two week low of $28.67 and a fifty-two week high of $48.26. 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 50 day simple moving average of $45.20 and a two-hundred day simple moving average of $41.77. The stock has a market cap of $2.52 billion, a P/E ratio of 9.53 and a beta of 0.95.

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

Insider Buying and Selling

In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The disclosure for this sale can be found here. Insiders have sold a total of 236,370 shares of company stock worth $10,880,243 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Hedge funds have recently bought and sold shares of the business. Rise Advisors LLC purchased a new stake in shares of Tetra Tech during the 1st quarter valued at about $27,000. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech during the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Tetra Tech during the 4th quarter valued at about $33,000. Principal Securities Inc. bought a new position in shares of Tetra Tech during the 4th quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC bought a new position in shares of Tetra Tech during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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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