Tetra Tech (NASDAQ:TTEK) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research note released on Monday morning.

TTEK has been the topic of several other reports. KeyCorp increased their price objective on Tetra Tech from $46.80 to $49.40 and gave the company an overweight rating in a research report on Friday, August 2nd. Robert W. Baird increased their price objective on Tetra Tech from $44.60 to $46.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada increased their price objective on Tetra Tech from $46.60 to $51.80 and gave the company an outperform rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $49.16.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $47.17 on Monday. The business’s 50-day moving average price is $45.32 and its two-hundred day moving average price is $41.84. Tetra Tech has a twelve month low of $28.67 and a twelve month high of $48.26. The stock has a market cap of $12.63 billion, a P/E ratio of 9.55 and a beta of 0.95. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. As a group, equities analysts predict that Tetra Tech will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.058 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.23 annualized dividend and a yield of 0.49%. Tetra Tech’s payout ratio is 4.66%.

Insider Buying and Selling

In related news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,385 shares in the company, valued at approximately $5,664,990.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. The disclosure for this sale can be found here. Insiders have sold a total of 236,370 shares of company stock worth $10,880,243 in the last ninety days. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Tetra Tech

A number of large investors have recently made changes to their positions in TTEK. Principal Securities Inc. bought a new stake in shares of Tetra Tech in the 4th quarter worth approximately $36,000. UBS Group AG lifted its stake in shares of Tetra Tech by 10.9% in the 4th quarter. UBS Group AG now owns 36,681 shares of the industrial products company’s stock valued at $6,123,000 after purchasing an additional 3,600 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Tetra Tech by 1.6% in the 4th quarter. Wells Fargo & Company MN now owns 184,079 shares of the industrial products company’s stock valued at $30,728,000 after purchasing an additional 2,938 shares during the period. Assetmark Inc. lifted its stake in shares of Tetra Tech by 30.0% in the 4th quarter. Assetmark Inc. now owns 815 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 188 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of Tetra Tech in the 4th quarter valued at approximately $382,000. 93.89% of the stock is currently owned by 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.