Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Here’s What Happened

Tetra Tech, Inc. (NASDAQ:TTEK) gapped down before the market opened on Thursday . The stock had previously closed at $47.35, but opened at $43.10. Tetra Tech shares last traded at $43.92, with a volume of 1,328,776 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. KeyCorp increased their price target on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price target on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.68.

Tetra Tech Trading Down 10.5 %

The stock has a fifty day moving average of $47.82 and a 200 day moving average of $44.55. The company has a market capitalization of $11.35 billion, a P/E ratio of 40.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21.

Insider Buying and Selling

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its position in shares of Tetra Tech by 365.0% during the third quarter. Rockefeller Capital Management L.P. now owns 1,138,716 shares of the industrial products company’s stock valued at $53,739,000 after purchasing an additional 893,827 shares in the last quarter. Walleye Capital LLC grew its position in shares of Tetra Tech by 2,141.2% during the third quarter. Walleye Capital LLC now owns 6,096 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 5,824 shares in the last quarter. Martingale Asset Management L P grew its position in shares of Tetra Tech by 368.7% during the third quarter. Martingale Asset Management L P now owns 470,761 shares of the industrial products company’s stock valued at $22,201,000 after purchasing an additional 370,323 shares in the last quarter. Isthmus Partners LLC grew its position in shares of Tetra Tech by 302.3% during the third quarter. Isthmus Partners LLC now owns 95,464 shares of the industrial products company’s stock valued at $4,502,000 after purchasing an additional 71,736 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Tetra Tech by 405.3% during the third quarter. Hantz Financial Services Inc. now owns 19,737 shares of the industrial products company’s stock valued at $931,000 after purchasing an additional 15,831 shares in the last quarter. 93.89% of the stock is 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.