Tetra Tech (NASDAQ:TTEK) Price Target Cut to $49.00 by Analysts at KeyCorp

by · The Markets Daily

Tetra Tech (NASDAQ:TTEK – Free Report) had its price target decreased by KeyCorp from $56.00 to $49.00 in a research report released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on TTEK. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

View Our Latest Analysis on TTEK

Tetra Tech Price Performance

TTEK traded up $0.31 during trading hours on Friday, hitting $41.27. The company’s stock had a trading volume of 4,176,228 shares, compared to its average volume of 2,323,584. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $47.60 and its 200-day moving average price is $44.58. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s payout ratio is 18.67%.

Insider Buying and Selling

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

A number of hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its stake in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares during the period. LGT Financial Advisors LLC raised its holdings in shares of Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech in the second quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its position in Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 587 shares during the period. Finally, Canton Hathaway LLC grew its position in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 516 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

About Tetra Tech

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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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