Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Here’s What Happened

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $37.67, but opened at $36.09. Tetra Tech shares last traded at $31.78, with a volume of 1,272,446 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTEK. Robert W. Baird raised their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. KeyCorp cut their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Down 4.2 %

The company’s fifty day simple moving average is $40.91 and its 200 day simple moving average is $44.26. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.67 billion, a PE ratio of 29.27 and a beta of 0.90.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 20.64% and a net margin of 6.41%. Analysts anticipate that Tetra Tech, Inc. will post 1.45 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.64%. Tetra Tech’s payout ratio is currently 18.67%.

Hedge Funds Weigh In On Tetra Tech

Several large investors have recently modified their holdings of TTEK. Quarry LP purchased a new position in Tetra Tech in the second quarter worth about $54,000. Allworth Financial LP increased its position in shares of Tetra Tech by 629.3% during the third 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 in the last quarter. LGT Financial Advisors LLC raised its holdings in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 444 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Tetra Tech by 3,261.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC boosted its stake in Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares during 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.