Robert W. Baird Forecasts Strong Price Appreciation for Tetra Tech (NASDAQ:TTEK) Stock

Tetra Tech (NASDAQ:TTEK) had its price objective hoisted by investment analysts at Robert W. Baird from $46.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential downside of 0.74% from the company’s current price.

A number of other brokerages have also recently weighed in on TTEK. Royal Bank of Canada lifted their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. KeyCorp lifted their target price on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and an average target price of $50.68.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $47.35 on Thursday. The company has a market cap of $12.67 billion, a P/E ratio of 43.76 and a beta of 0.94. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. Tetra Tech has a 52 week low of $30.92 and a 52 week high of $51.20. The business has a fifty day simple moving average of $47.82 and a 200-day simple moving average of $44.55.

Insider Transactions at Tetra Tech

In related news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently made changes to their positions in TTEK. US Bancorp DE boosted its position in shares of Tetra Tech by 43.3% during the first quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock worth $604,000 after buying an additional 988 shares during the period. Nwam LLC acquired a new position in shares of Tetra Tech during the first quarter worth approximately $1,123,000. Vanguard Group Inc. boosted its position in shares of Tetra Tech by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after buying an additional 14,701 shares during the period. Edgestream Partners L.P. boosted its position in shares of Tetra Tech by 355.8% during the first quarter. Edgestream Partners L.P. now owns 9,302 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 7,261 shares during the period. Finally, Covestor Ltd boosted its position in shares of Tetra Tech by 421.1% during the first quarter. Covestor Ltd now owns 495 shares of the industrial products company’s stock worth $92,000 after buying an additional 400 shares during the period. 93.89% of the stock is owned by institutional investors.

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.