Tetra Tech, Inc. (NASDAQ:TTEK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $47.92.

TTEK has been the topic of a number of recent research reports. KeyCorp cut their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Robert W. Baird upped their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $30.14 on Wednesday. Tetra Tech has a 52 week low of $29.23 and a 52 week high of $51.20. The firm has a market capitalization of $8.08 billion, a PE ratio of 31.66 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $37.27 and a 200-day moving average price of $42.94.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, equities research analysts expect that Tetra Tech will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued 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 0.77%. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

Insider Buying and Selling at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now directly owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its holdings in Tetra Tech by 364.8% in the 3rd quarter. CWM LLC now owns 1,413 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,109 shares during the last quarter. Creative Planning grew its stake in shares of Tetra Tech by 259.9% in the third quarter. Creative Planning now owns 64,738 shares of the industrial products company’s stock worth $3,053,000 after acquiring an additional 46,749 shares during the last quarter. Global Retirement Partners LLC increased its position in Tetra Tech by 449.0% during the third quarter. Global Retirement Partners LLC now owns 8,082 shares of the industrial products company’s stock worth $381,000 after acquiring an additional 6,610 shares during the period. Raymond James & Associates raised its stake in Tetra Tech by 529.3% during the 3rd quarter. Raymond James & Associates now owns 187,676 shares of the industrial products company’s stock valued at $8,851,000 after purchasing an additional 157,855 shares during the last quarter. Finally, Whittier Trust Co. boosted its holdings in Tetra Tech by 411.0% in the 3rd quarter. Whittier Trust Co. now owns 34,915 shares of the industrial products company’s stock valued at $1,646,000 after purchasing an additional 28,082 shares during the period. 93.89% of the stock is 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.