Tetra Tech, Inc. (NASDAQ:TTEK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Tetra Tech, Inc. (NASDAQ:TTEK – Get Free Report) has earned an average rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $50.48.

TTEK has been the topic of a number of recent analyst reports. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp increased their price target on Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective 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. Finally, Robert W. Baird upped their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

View Our Latest Stock Report on TTEK

Insider Activity at Tetra Tech

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 shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,380 shares in the company, valued at $5,664,762.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dan L. Batrack sold 89,620 shares of the company’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 sale, the chief executive officer now owns 124,380 shares in the company, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,370 shares of company stock worth $10,880,243 in the last three months. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Tetra Tech during the 1st quarter worth approximately $27,000. Banque Cantonale Vaudoise purchased a new position in Tetra Tech in the second quarter valued at $28,000. USA Financial Formulas raised its stake in Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after buying an additional 545 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in Tetra Tech by 400.0% during the 3rd quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock worth $34,000 after buying an additional 580 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Tetra Tech by 561.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 174 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Trading Up 0.6 %

Shares of Tetra Tech stock opened at $49.13 on Thursday. Tetra Tech has a 1-year low of $28.67 and a 1-year high of $50.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $13.15 billion, a P/E ratio of 45.41 and a beta of 0.94. The stock’s 50 day simple moving average is $47.16 and its 200-day simple moving average is $43.31.

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, beating the consensus estimate of $0.31 by $0.01. The company 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. Analysts predict that Tetra Tech will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors 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 0.47%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s payout ratio is 21.26%.

About Tetra Tech

(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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