Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Up 66.5% in February

Tetra Tech, Inc. (NASDAQ:TTEK) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 7,910,000 shares, a growth of 66.5% from the January 31st total of 4,750,000 shares. Based on an average daily volume of 2,750,000 shares, the short-interest ratio is currently 2.9 days.

Insiders Place Their Bets

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

Institutional Trading of Tetra Tech

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares during the period. LGT Financial Advisors LLC grew its holdings in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares during the period. Venturi Wealth Management LLC grew its holdings in Tetra Tech by 3,261.1% during 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 during the period. Canton Hathaway LLC grew its holdings in Tetra Tech by 400.0% during 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. Finally, Banque Cantonale Vaudoise grew its holdings in Tetra Tech by 400.0% during the third quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 556 shares during the period. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Down 3.2 %

Tetra Tech stock opened at $28.26 on Tuesday. The stock has a market cap of $7.57 billion, a PE ratio of 29.68 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech has a one year low of $28.17 and a one year high of $51.20. The stock has a fifty day moving average of $36.62 and a 200 day moving average of $42.60.

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

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is presently 24.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TTEK shares. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Robert W. Baird boosted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. KeyCorp decreased their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating 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’s stock. According to data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

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.