Tetra Tech, Inc. (NASDAQ:TTEK) Given Average Rating of “Moderate Buy” by Brokerages

Tetra Tech, Inc. (NASDAQ:TTEK) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $49.32.

Several analysts have weighed in on TTEK shares. KeyCorp lowered their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Robert W. Baird increased their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Tetra Tech Stock Down 2.6 %

TTEK stock opened at $38.37 on Friday. The stock has a 50-day simple moving average of $41.06 and a two-hundred day simple moving average of $44.30. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech has a twelve month low of $31.61 and a twelve month high of $51.20. The firm has a market capitalization of $10.28 billion, a PE ratio of 31.14 and a beta of 0.90.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Wednesday, November 27th. Tetra Tech’s payout ratio is 18.70%.

Institutional Trading of Tetra Tech

A number of institutional investors have recently made changes to their positions in TTEK. abrdn plc raised its holdings in Tetra Tech by 7.6% in the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after purchasing an additional 159,701 shares during the period. Trust Point Inc. acquired a new position in Tetra Tech in the fourth quarter valued at about $599,000. Jennison Associates LLC acquired a new stake in Tetra Tech in the 4th quarter valued at approximately $22,653,000. Greenleaf Trust raised its holdings in shares of Tetra Tech by 14.5% in the 4th quarter. Greenleaf Trust now owns 5,276 shares of the industrial products company’s stock valued at $210,000 after buying an additional 669 shares during the period. Finally, Clear Creek Financial Management LLC lifted its position in shares of Tetra Tech by 17.5% during the fourth quarter. Clear Creek Financial Management LLC now owns 8,418 shares of the industrial products company’s stock worth $335,000 after purchasing an additional 1,256 shares in 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.