Tetra Tech (NASDAQ:TTEK) PT Raised to $56.00

Tetra Tech (NASDAQ:TTEK) had its price objective boosted by KeyCorp from $49.00 to $56.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other research analysts have also commented on TTEK. Royal Bank of Canada upped their target price on Tetra Tech from $46.60 to $51.80 and gave the company an outperform rating in a research note on Friday, August 2nd. Robert W. Baird lifted their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Finally, StockNews.com raised shares of Tetra Tech from a hold rating to a buy rating in a research note on Friday, October 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $50.48.

Tetra Tech Stock Up 1.1 %

TTEK opened at $49.30 on Tuesday. The business has a 50 day moving average of $46.76 and a 200-day moving average of $42.81. The stock has a market capitalization of $13.20 billion, a price-to-earnings ratio of 45.56 and a beta of 0.94. 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 has a 1-year low of $28.67 and a 1-year high of $50.03.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. 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 analyst estimates of $1.08 billion. During the same period last year, the business posted $0.26 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Tetra Tech will post 1.25 earnings per share for the current year.

Tetra Tech Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s dividend payout ratio is currently 21.26%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the sale, the chief executive officer now owns 124,380 shares of the company’s stock, valued at $5,664,762.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now owns 124,380 shares of the company’s stock, valued at $5,664,762.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Preston Hopson III sold 25,000 shares of the business’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 sale, the senior vice president now directly owns 43,710 shares of the company’s stock, valued at $2,037,497.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,370 shares of company stock worth $10,880,243. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

Several hedge funds have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Tetra Tech during the first quarter worth about $27,000. Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech during the second quarter worth $28,000. USA Financial Formulas lifted its position in Tetra Tech by 332.3% in the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 545 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Tetra Tech by 400.0% in the 3rd quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 580 shares during the period. Finally, Creekmur Asset Management LLC bought a new position in Tetra Tech during the 4th quarter worth about $38,000. 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.