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

StockNews.com lowered shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a report published on Friday.

TTEK has been the subject of several other research reports. Robert W. Baird upped their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. KeyCorp reduced their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Price Performance

NASDAQ:TTEK traded up $0.31 during mid-day trading on Friday, hitting $41.27. 4,176,228 shares of the company’s stock traded hands, compared to its average volume of 2,323,584. The company has a market cap of $11.05 billion, a PE ratio of 33.50 and a beta of 0.94. The firm’s 50 day simple moving average is $47.60 and its 200 day simple moving average is $44.58. Tetra Tech has a 1 year low of $30.92 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s dividend payout ratio is presently 18.67%.

Insider Buying and Selling

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,750 shares of company stock worth $5,633,239 in the last three months. Insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Large investors have recently modified their holdings of the business. Allworth Financial LP increased its holdings in shares of Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC boosted its stake in Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Tetra Tech in the second quarter valued at about $28,000. Venturi Wealth Management LLC raised its holdings in Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC raised its stake in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 516 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.