Tetra Tech (NASDAQ:TTEK) Rating Lowered to “Hold” at Maxim Group

Tetra Tech (NASDAQ:TTEK) was downgraded by equities research analysts at Maxim Group from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat.com reports.

A number of other research firms also recently commented on TTEK. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp cut their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird boosted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Trading Down 1.1 %

Shares of TTEK stock opened at $33.40 on Thursday. The firm’s 50-day simple moving average is $40.16 and its 200-day simple moving average is $44.02. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. Tetra Tech has a 1-year low of $31.09 and a 1-year high of $51.20. The firm has a market cap of $8.95 billion, a P/E ratio of 35.08 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, equities analysts forecast that Tetra Tech will post 1.37 EPS for the current year.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Trading of Tetra Tech

Hedge funds and other institutional investors have recently modified their holdings of the business. Sarasin & Partners LLP increased its holdings in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares during the last quarter. Amundi grew its position in shares of Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after buying an additional 117,304 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after acquiring an additional 2,622,288 shares in the last quarter. Finally, Robeco Schweiz AG boosted its stake in Tetra Tech by 26.5% during the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock valued at $97,603,000 after acquiring an additional 512,931 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Company Profile

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.