Tetra Tech, Inc. (NASDAQ:TTEK) Receives Average Recommendation of “Moderate Buy” from Analysts

Tetra Tech, Inc. (NASDAQ:TTEK) has been given an average rating of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat Ratings reports. One 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 issued ratings on the stock in the last year is $49.16.

A number of equities research analysts have issued reports on the company. KeyCorp increased their price target on Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective 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.

Insider Activity at Tetra Tech

In other news, SVP Preston Hopson III sold 25,000 shares of Tetra Tech stock in a transaction dated 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 sale, the senior vice president now owns 43,710 shares in the company, valued at $2,037,497.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Preston Hopson III sold 25,000 shares of the firm’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 transaction, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock valued at $10,880,243 in the last ninety days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Several hedge funds have recently made changes to their positions in TTEK. Nwam LLC acquired a new stake in shares of Tetra Tech during the first quarter worth $1,123,000. Sarasin & Partners LLP lifted its stake in shares of Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after acquiring an additional 32,053 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Tetra Tech by 88.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,384 shares of the industrial products company’s stock valued at $2,288,000 after acquiring an additional 5,819 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Tetra Tech by 26.5% during the first quarter. Van ECK Associates Corp now owns 39,564 shares of the industrial products company’s stock worth $7,307,000 after acquiring an additional 8,289 shares during the period. Finally, Perpetual Ltd lifted its position in Tetra Tech by 22.0% in the first quarter. Perpetual Ltd now owns 37,934 shares of the industrial products company’s stock valued at $7,007,000 after purchasing an additional 6,842 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Trading Down 1.2 %

TTEK opened at $46.11 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2.47 billion, a P/E ratio of 9.33 and a beta of 0.95. Tetra Tech has a 52 week low of $28.67 and a 52 week high of $48.26. The business has a fifty day simple moving average of $44.95 and a 200-day simple moving average of $41.62.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share 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 the consensus estimate of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. Tetra Tech’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. On average, equities analysts expect that Tetra Tech will post 1.25 earnings per share for the current year.

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.058 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 0.50%. Tetra Tech’s dividend payout ratio is presently 4.66%.

About Tetra Tech

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.