Tetra Tech, Inc. (NASDAQ:TTEK) Receives $49.16 Average PT from Brokerages

Tetra Tech, Inc. (NASDAQ:TTEK) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $49.16.

Several research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. KeyCorp upped their price target on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, Robert W. Baird upped their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

Tetra Tech Stock Down 0.5 %

Shares of NASDAQ TTEK opened at $46.40 on Friday. Tetra Tech has a 1 year low of $28.67 and a 1 year high of $48.26. The firm’s 50 day moving average price is $45.56 and its 200 day moving average price is $41.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $2.48 billion, a P/E ratio of 9.39 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 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 firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share. Tetra Tech’s revenue for the quarter was up 10.7% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.50%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s dividend payout ratio is currently 4.66%.

Insider Buying and Selling

In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now directly owns 124,385 shares in the company, valued at $5,664,990.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,385 shares in the company, valued at $5,664,990.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the transaction, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock worth $10,880,243 over the last ninety days. 0.61% of the stock is owned by insiders.

Institutional Trading of Tetra Tech

Several large investors have recently added to or reduced their stakes in TTEK. Principal Securities Inc. bought a new stake in shares of Tetra Tech during the 4th quarter worth about $36,000. Quadrant Capital Group LLC lifted its position in Tetra Tech by 59.0% in the fourth quarter. Quadrant Capital Group LLC now owns 539 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 200 shares during the period. Norges Bank bought a new position in Tetra Tech during the 4th quarter valued at $96,655,000. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Tetra Tech by 4.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,393 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 98 shares during the period. Finally, UBS Group AG raised its stake in shares of Tetra Tech by 10.9% in the 4th quarter. UBS Group AG now owns 36,681 shares of the industrial products company’s stock worth $6,123,000 after buying an additional 3,600 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.