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

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

TTEK has been the subject of a number of other research reports. Robert W. Baird increased their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a neutral rating in a report on Thursday, August 1st. KeyCorp increased their target price on shares of Tetra Tech from $46.80 to $49.40 and gave the stock an overweight rating in a report on Friday, August 2nd. Royal Bank of Canada increased 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. Finally, Maxim Group increased their target price on shares of Tetra Tech from $46.80 to $53.60 and gave the stock a buy rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $49.16.

Tetra Tech Trading Down 79.8 %

TTEK stock opened at $45.59 on Friday. The company has a market capitalization of $2.44 billion, a PE ratio of 9.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech has a 52 week low of $28.67 and a 52 week high of $48.26. The company’s 50-day simple moving average is $47.58 and its 200 day simple moving average is $42.35.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, sell-side analysts anticipate that Tetra Tech will post 6.24 earnings per share for the current year.

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Transactions at Tetra Tech

In related news, SVP Preston Hopson III sold 25,000 shares of Tetra Tech stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total value of $1,165,350.00. Following the completion of the sale, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 55,805 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $42.37, for a total transaction of $2,364,234.63. Following the transaction, the executive vice president now directly owns 374,435 shares in the company, valued at approximately $15,863,313.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Preston Hopson III sold 25,000 shares of Tetra Tech 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 in the company, valued at $2,037,497.94. The disclosure for this sale can be found here. Insiders sold a total of 170,425 shares of company stock valued at $7,611,238 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

A number of hedge funds have recently made changes to their positions in the business. CWM LLC raised its stake in Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 51 shares during the period. ELCO Management Co. LLC raised its stake in Tetra Tech by 4.8% in the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 60 shares during the period. GAMMA Investing LLC raised its stake in Tetra Tech by 25.8% in 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 period. CIBC Asset Management Inc raised its stake in 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 during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake 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 valued at $456,000 after acquiring an additional 75 shares during the period. 93.89% of the stock is currently owned by institutional investors.

About Tetra Tech

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.