Tetra Tech (NASDAQ:TTEK) Price Target Raised to $247.00

Tetra Tech (NASDAQ:TTEK) had its price target upped by KeyCorp from $234.00 to $247.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently commented on TTEK. Northcoast Research raised Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price on the stock in a report on Thursday, May 2nd. Maxim Group raised their price objective on Tetra Tech from $234.00 to $268.00 and gave the stock a buy rating in a research note on Thursday, May 16th. Royal Bank of Canada reiterated an outperform rating and set a $233.00 price objective on shares of Tetra Tech in a research note on Tuesday, July 9th. StockNews.com cut shares of Tetra Tech from a buy rating to a hold rating in a research note on Friday, July 19th. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $223.00 to $230.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of Moderate Buy and a consensus price target of $245.80.

Tetra Tech Stock Performance

Shares of TTEK opened at $225.43 on Friday. The business’s 50 day moving average price is $208.22 and its 200-day moving average price is $194.15. The company has a quick ratio of 1.24, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a market cap of $12.06 billion, a P/E ratio of 45.63 and a beta of 0.93. Tetra Tech has a 52 week low of $143.35 and a 52 week high of $234.94.

Shares of Tetra Tech are scheduled to split before the market opens on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be issued to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.05. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $1.29 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Tetra Tech will post 6.24 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

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

Insider Buying and Selling

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the completion of the sale, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

A number of large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new position in Tetra Tech during the second quarter valued at approximately $28,000. Rise Advisors LLC acquired a new position in Tetra Tech in the first quarter valued at about $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Tetra Tech during the fourth quarter valued at about $33,000. Principal Securities Inc. purchased a new stake in Tetra Tech during the fourth quarter worth about $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in Tetra Tech during the 4th quarter worth approximately $38,000. Hedge funds and other 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.