KeyCorp Lowers Tetra Tech (NASDAQ:TTEK) Price Target to $49.00

Tetra Tech (NASDAQ:TTEK) had its price objective lowered by KeyCorp from $56.00 to $49.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

TTEK has been the topic of a number of other reports. Robert W. Baird increased their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada raised their target price on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Trading Down 0.4 %

NASDAQ TTEK opened at $41.12 on Friday. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20. The stock has a market cap of $11.01 billion, a P/E ratio of 33.38 and a beta of 0.94. The stock’s fifty day moving average price is $47.60 and its 200-day moving average price is $44.58. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is presently 18.67%.

Insider Activity at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tetra Tech

Hedge funds have recently bought and sold shares of the business. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after buying an additional 472 shares during the period. LGT Financial Advisors LLC raised its stake in Tetra Tech by 400.0% in the third 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 during the last quarter. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech in the second quarter valued at about $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 buying an additional 587 shares during the last quarter. Finally, Canton Hathaway LLC increased its holdings in shares of Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares during the period. Institutional investors 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.