Tetra Tech (NASDAQ:TTEK) Sets New 52-Week Low – Time to Sell?

Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week low during trading on Friday . The stock traded as low as $31.09 and last traded at $36.57, with a volume of 17490964 shares. The stock had previously closed at $37.67.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. KeyCorp dropped their price target 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. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Finally, Robert W. Baird boosted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Stock Performance

The stock’s 50-day simple moving average is $40.83 and its 200-day simple moving average is $44.23. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 29.68 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping 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 forecast that Tetra Tech, Inc. will post 1.45 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.63%. Tetra Tech’s dividend payout ratio is 18.67%.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its stake in Tetra Tech by 629.3% in 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 during the last quarter. LGT Financial Advisors LLC raised its holdings in shares of Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after buying an additional 444 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after buying an additional 587 shares during the last quarter. Canton Hathaway LLC boosted its stake in Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares in the last quarter. Finally, USA Financial Formulas lifted its holdings in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares during the last quarter. 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.