Tetra Tech (NASDAQ:TTEK) Lifted to “Buy” at StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, KeyCorp upped their target price on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average price target of $49.16.

Tetra Tech Stock Up 0.3 %

NASDAQ:TTEK traded up $0.14 during trading hours on Friday, hitting $48.37. 1,509,718 shares of the company’s stock traded hands, compared to its average volume of 1,357,559. The stock’s fifty day moving average price is $162.98 and its two-hundred day moving average price is $188.00. The firm has a market cap of $12.95 billion, a P/E ratio of 9.79 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech has a twelve month low of $28.67 and a twelve month high of $48.59.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.34 billion for 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%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, research analysts expect that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Tetra Tech

In related news, SVP Preston Hopson III sold 25,000 shares of the business’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 value of $1,165,350.00. Following the completion of the sale, the senior vice president now directly owns 43,710 shares in the company, valued at approximately $2,037,497.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction dated 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 transaction, the chief executive officer now directly owns 124,380 shares in the company, valued at approximately $5,664,762.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total value of $1,165,350.00. Following the sale, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,370 shares of company stock worth $10,880,243 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTEK. Vanguard Group Inc. lifted its position in shares of Tetra Tech by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after acquiring an additional 14,701 shares during the period. Sarasin & Partners LLP lifted its holdings in Tetra Tech by 2.6% during the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after purchasing an additional 32,053 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Tetra Tech by 27.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock valued at $138,459,000 after buying an additional 144,706 shares in the last quarter. Ninety One UK Ltd bought a new stake in Tetra Tech during the second quarter worth about $135,897,000. Finally, LGT Group Foundation increased its holdings in shares of Tetra Tech by 7,481.7% during the second quarter. LGT Group Foundation now owns 491,444 shares of the industrial products company’s stock worth $100,490,000 after buying an additional 484,962 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.