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

Tetra Tech, Inc. (NASDAQ:TTEK) has earned a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat 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 price target among brokers that have issued ratings on the stock in the last year is $50.48.

Several analysts have recently issued reports on TTEK shares. 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. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp upped their target price on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada upped their target price 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.

Tetra Tech Stock Down 0.4 %

Shares of TTEK stock opened at $48.86 on Thursday. The stock has a market cap of $2.61 billion, a P/E ratio of 9.89 and a beta of 0.94. Tetra Tech has a 52 week low of $28.67 and a 52 week high of $50.03. 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 company’s fifty day simple moving average is $46.90 and its two-hundred day simple moving average is $42.98.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company 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 disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is currently 4.66%.

Insider Buying and Selling

In related news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction dated Tuesday, August 6th. The shares were 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 directly owns 124,380 shares of the company’s stock, valued at $5,664,762.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 124,380 shares of the company’s stock, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Preston Hopson III sold 25,000 shares of the firm’s stock in a transaction that occurred 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 approximately $2,037,497.94. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after buying an additional 51 shares during the period. ELCO Management Co. LLC increased its holdings in Tetra Tech by 4.8% during the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares during the period. GAMMA Investing LLC increased its holdings in Tetra Tech by 25.8% during the first quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after buying an additional 62 shares during the period. CIBC Asset Management Inc increased its holdings in Tetra Tech by 4.8% during the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after buying an additional 70 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Tetra Tech by 3.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock valued at $456,000 after buying an additional 75 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

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.