Tetra Tech (NASDAQ:TTEK) Raised 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 note released on Monday morning.

Other analysts have also recently issued research reports about the stock. KeyCorp raised their target price on shares of Tetra Tech from $234.00 to $247.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Robert W. Baird raised their target price on shares of Tetra Tech from $223.00 to $230.00 and gave the company a neutral rating in a report on Thursday, August 1st. Northcoast Research upgraded shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price for the company in a report on Thursday, May 2nd. Royal Bank of Canada lifted their price target on shares of Tetra Tech from $233.00 to $259.00 and gave the stock an outperform rating in a report on Friday, August 2nd. Finally, Maxim Group lifted their price target on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a buy rating in a report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $245.80.

Tetra Tech Price Performance

Shares of TTEK stock opened at $231.76 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.24. The firm’s 50-day moving average is $209.51 and its two-hundred day moving average is $195.53. Tetra Tech has a 12 month low of $143.35 and a 12 month high of $234.94. The company has a market capitalization of $12.41 billion, a PE ratio of 46.91 and a beta of 0.93.

Tetra Tech’s stock is scheduled to split on the morning of Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be payable to shareholders after the market closes on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.05. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $1.29 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts predict that Tetra Tech will post 6.24 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.50%. Tetra Tech’s dividend payout ratio is currently 23.48%.

Insider Activity

In related news, CEO Dan L. Batrack sold 17,924 shares of Tetra Tech stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $227.72, for a total value of $4,081,653.28. Following the completion of the sale, the chief executive officer now owns 24,877 shares in the company, valued at $5,664,990.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tetra Tech news, CEO Dan L. Batrack sold 17,924 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $227.72, for a total transaction of $4,081,653.28. Following the completion of the sale, the chief executive officer now owns 24,877 shares in the company, valued at $5,664,990.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Preston Hopson III sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $233.07, for a total transaction of $1,165,350.00. Following the sale, the senior vice president now owns 8,742 shares of the company’s stock, valued at approximately $2,037,497.94. The disclosure for this sale can be found here. Insiders have sold 34,085 shares of company stock worth $7,611,238 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Large investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in Tetra Tech in the first quarter worth approximately $27,000. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the second quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Tetra Tech in the fourth quarter worth about $33,000. Principal Securities Inc. acquired a new position in shares of Tetra Tech in the fourth quarter worth about $36,000. Finally, GAMMA Investing LLC acquired a new position in shares of Tetra Tech in the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.