Tetra Tech (NASDAQ:TTEK) Reaches New 1-Year High – Here’s Why

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week high on Tuesday . The stock traded as high as $50.28 and last traded at $50.23, with a volume of 194615 shares traded. The stock had previously closed at $48.50.

Analysts Set New Price Targets

Several equities research analysts recently commented on TTEK shares. Robert W. Baird boosted their price target 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. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp lifted their price target on Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada upped their price objective on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.48.

Tetra Tech Stock Down 1.0 %

The company has a market capitalization of $2.68 billion, a PE ratio of 10.13 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. The business has a fifty day moving average of $47.53 and a 200 day moving average of $43.74.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, beating 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 business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Tetra Tech, Inc. will post 1.25 EPS for the current year.

Insider Buying and Selling at Tetra Tech

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 sale, the chief executive officer now owns 124,380 shares of the company’s stock, valued at approximately $5,664,762.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,370 shares of company stock valued at $10,880,243 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several large investors have recently bought and sold shares of TTEK. Allworth Financial LP increased its holdings in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Tetra Tech in the second quarter valued at approximately $28,000. USA Financial Formulas raised its holdings in Tetra Tech by 332.3% during the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 545 shares in the last quarter. Rise Advisors LLC lifted its position in shares of Tetra Tech by 402.1% during the 3rd quarter. Rise Advisors LLC now owns 723 shares of the industrial products company’s stock worth $34,000 after buying an additional 579 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock valued at $34,000 after buying an additional 580 shares in the last quarter. Hedge funds and other institutional investors 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.