Tetra Tech (NASDAQ:TTEK) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research report report published on Saturday morning.

TTEK has been the topic of a number of other research reports. Royal Bank of Canada increased their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an outperform rating in a research note on Friday, August 2nd. Robert W. Baird increased their target price on Tetra Tech from $44.60 to $46.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Finally, KeyCorp increased their target price on Tetra Tech from $46.80 to $49.40 and gave the stock an overweight rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $49.16.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $46.60 on Friday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 9.43 and a beta of 0.95. The stock has a 50 day simple moving average of $44.47 and a 200-day simple moving average of $41.32. Tetra Tech has a 12-month low of $28.67 and a 12-month high of $48.26. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, equities analysts forecast that Tetra Tech will post 1.25 EPS for the current year.

Tetra Tech Cuts Dividend

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

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, SVP Preston Hopson III sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tetra Tech news, SVP Preston Hopson III sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 124,385 shares of the company’s stock, valued at $5,664,990.44. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock valued at $10,880,243 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

Several large investors have recently modified their holdings of TTEK. Ninety One UK Ltd acquired a new stake in shares of Tetra Tech during the second quarter valued at about $135,897,000. Norges Bank acquired a new position in Tetra Tech in the fourth quarter worth about $96,655,000. LGT Group Foundation grew its stake in Tetra Tech by 7,481.7% in the second quarter. LGT Group Foundation now owns 491,444 shares of the industrial products company’s stock worth $100,490,000 after purchasing an additional 484,962 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in Tetra Tech in the second quarter worth about $37,829,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Tetra Tech by 27.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock worth $138,459,000 after purchasing an additional 144,706 shares in the last quarter. 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.