Tetra Tech (NASDAQ:TTEK) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other research analysts also recently commented on TTEK. Royal Bank of Canada raised their price objective on Tetra Tech from $203.00 to $233.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Maxim Group raised their price objective on Tetra Tech from $234.00 to $268.00 and gave the stock a buy rating in a research note on Thursday, May 16th. Northcoast Research raised Tetra Tech from a neutral rating to a buy rating and set a $225.00 price objective on the stock in a research note on Thursday, May 2nd. Robert W. Baird raised their price objective on Tetra Tech from $200.00 to $223.00 and gave the stock a neutral rating in a research note on Wednesday, May 15th. Finally, KeyCorp lifted their target price on Tetra Tech from $231.00 to $234.00 and gave the company an overweight rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $236.60.

Tetra Tech Trading Up 0.0 %

Shares of NASDAQ:TTEK opened at $207.69 on Wednesday. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.04 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $205.10 and its two-hundred day simple moving average is $184.38. Tetra Tech has a 52-week low of $143.35 and a 52-week high of $221.40.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.17 earnings per share. Analysts expect that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Activity at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the completion of the transaction, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in Tetra Tech during the 1st quarter valued at approximately $27,000. Contravisory Investment Management Inc. purchased a new position in Tetra Tech during the 4th quarter valued at approximately $26,000. Jones Financial Companies Lllp purchased a new position in shares of Tetra Tech in the 4th quarter worth approximately $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

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.