StockNews.com Lowers Tetra Tech (NASDAQ:TTEK) to Hold

Tetra Tech (NASDAQ:TTEK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

Several other research analysts have also recently commented on TTEK. Robert W. Baird boosted their price target on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. KeyCorp upped their price objective on Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada upped their price objective on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $49.16.

Tetra Tech Stock Up 1.5 %

NASDAQ:TTEK traded up $0.68 during mid-day trading on Monday, hitting $46.79. The company had a trading volume of 890,820 shares, compared to its average volume of 1,363,529. The business has a fifty day simple moving average of $45.07 and a 200-day simple moving average of $41.69. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. Tetra Tech has a 1 year low of $28.67 and a 1 year high of $48.26. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.47 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last released 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. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Insider Transactions at Tetra Tech

In related news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at $5,664,990.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,370 shares of company stock worth $10,880,243. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 51 shares in the last quarter. ELCO Management Co. LLC increased its position 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 worth $268,000 after buying an additional 60 shares during the last quarter. GAMMA Investing LLC increased its position in Tetra Tech by 25.8% during the first quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock worth $56,000 after buying an additional 62 shares during the last quarter. CIBC Asset Management Inc increased its position 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 worth $312,000 after buying an additional 70 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position 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 worth $456,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.