Royal Bank of Canada Reaffirms Outperform Rating for Tetra Tech (NASDAQ:TTEK)

Tetra Tech (NASDAQ:TTEK)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They currently have a $52.00 target price on the industrial products company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 26.00% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp cut their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Trading Up 0.8 %

NASDAQ TTEK opened at $41.27 on Friday. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $47.60 and a 200-day moving average of $44.58. The company has a market cap of $11.05 billion, a PE ratio of 33.50 and a beta of 0.94.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $13,649,251.65. The trade was a 20.94 % 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, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,750 shares of company stock worth $5,633,239. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP increased its stake in Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 472 shares during the period. LGT Financial Advisors LLC grew its holdings in shares of Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Tetra Tech in the second quarter worth $28,000. Venturi Wealth Management LLC raised its stake in Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC lifted its position in Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares during the period. 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.