Tetra Tech (NASDAQ:TTEK) Price Target Increased to $230.00 by Analysts at Robert W. Baird

Tetra Tech (NASDAQ:TTEK) had its price target upped by Robert W. Baird from $223.00 to $230.00 in a report issued on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

A number of other analysts also recently issued reports on the stock. KeyCorp lifted their price target on shares of Tetra Tech from $231.00 to $234.00 and gave the company an overweight rating in a report on Thursday, May 23rd. Royal Bank of Canada restated an outperform rating and set a $233.00 price target on shares of Tetra Tech in a research note on Tuesday, July 9th. Northcoast Research upgraded Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price on the stock in a research note on Thursday, May 2nd. StockNews.com downgraded shares of Tetra Tech from a buy rating to a hold rating in a report on Friday, July 19th. Finally, Maxim Group upped their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a buy rating in a report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Tetra Tech currently has an average rating of Moderate Buy and an average target price of $240.60.

Tetra Tech Trading Down 1.2 %

TTEK stock traded down $2.89 during midday trading on Thursday, hitting $229.59. The stock had a trading volume of 172,247 shares, compared to its average volume of 279,200. The firm has a market cap of $12.28 billion, a P/E ratio of 46.33 and a beta of 0.93. Tetra Tech has a 1-year low of $143.35 and a 1-year high of $234.94. The business has a fifty day moving average price of $207.97 and a two-hundred day moving average price of $193.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60.

Tetra Tech’s stock is scheduled to split before the market opens on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly issued shares will be issued to shareholders after the market closes on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.05. Tetra Tech had a return on equity of 22.06% and a net margin of 5.72%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Tetra Tech will post 6.22 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Activity at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of the sale, the executive vice president now directly owns 74,887 shares in the company, valued at $15,863,313.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp raised its holdings in Tetra Tech by 36.8% in the 4th quarter. Fifth Third Bancorp now owns 982 shares of the industrial products company’s stock valued at $164,000 after acquiring an additional 264 shares during the period. State of Michigan Retirement System raised its stake in Tetra Tech by 0.8% in the 4th quarter. State of Michigan Retirement System now owns 12,808 shares of the industrial products company’s stock valued at $2,138,000 after acquiring an additional 100 shares during the period. International Assets Investment Management LLC raised its position in shares of Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock worth $36,902,000 after buying an additional 219,742 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Tetra Tech by 2.5% in the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock worth $511,000 after buying an additional 74 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its holdings in shares of Tetra Tech by 0.7% during the 4th quarter. Alpine Woods Capital Investors LLC now owns 56,726 shares of the industrial products company’s stock valued at $9,469,000 after buying an additional 369 shares in the last quarter. 93.89% of the stock is 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.