Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) Target Price at $49.16

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $49.16.

A number of research firms recently issued reports on TTEK. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada raised their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. KeyCorp upped their price target on Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Tetra Tech Stock Performance

TTEK stock opened at $46.65 on Friday. The company has a 50-day simple moving average of $45.44 and a 200 day simple moving average of $41.90. The company has a market capitalization of $2.50 billion, a P/E ratio of 9.44 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 has a fifty-two week low of $28.67 and a fifty-two week high of $48.26.

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

Tetra Tech Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.50%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is currently 4.66%.

Insider Transactions at Tetra Tech

In related news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 124,385 shares in the company, valued at approximately $5,664,990.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the sale, the senior vice president now owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The disclosure for this sale can be found here. Insiders sold a total of 236,370 shares of company stock valued at $10,880,243 over the last quarter. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Tetra Tech by 20.2% during the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 51 shares during the last quarter. ELCO Management Co. LLC lifted its position in shares of Tetra Tech by 4.8% in the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock worth $268,000 after buying an additional 60 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Tetra Tech by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 62 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Tetra Tech by 4.8% in the 2nd quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 70 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Tetra Tech by 3.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

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.