Tetra Tech (NASDAQ:TTEK) Shares Down 7.4% After Analyst Downgrade

Tetra Tech, Inc. (NASDAQ:TTEK) was down 7.4% on Monday after KeyCorp lowered their price target on the stock from $49.00 to $45.00. KeyCorp currently has an overweight rating on the stock. Tetra Tech traded as low as $34.04 and last traded at $34.07. Approximately 1,678,264 shares were traded during trading, a decline of 50% from the average daily volume of 3,323,957 shares. The stock had previously closed at $36.80.

A number of other research firms have also commented on TTEK. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.52.

Institutional Trading of Tetra Tech

Several large investors have recently bought and sold shares of TTEK. Nordea Investment Management AB boosted its stake in Tetra Tech by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Tetra Tech by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after buying an additional 438 shares during the last quarter. LGT Financial Advisors LLC increased its position in Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares in the last quarter. Allworth Financial LP boosted its holdings in Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 472 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Tetra Tech by 14.1% in the second quarter. AQR Capital Management LLC now owns 4,056 shares of the industrial products company’s stock worth $829,000 after acquiring an additional 502 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Tetra Tech Price Performance

The firm has a fifty day moving average price of $40.61 and a two-hundred day moving average price of $44.16. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $9.17 billion, a P/E ratio of 35.93 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.68%. Tetra Tech’s dividend payout ratio (DPR) is presently 24.16%.

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.