Tetra Tech, Inc. (NASDAQ:TTEK) has been given a consensus rating of “Buy” by the eight research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $86.00.
TTEK has been the subject of a number of research reports. Maxim Group upped their price objective on Tetra Tech from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th. ValuEngine cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Cfra cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th.
In other Tetra Tech news, CFO Steven M. Burdick sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $87.43, for a total transaction of $1,398,880.00. Following the completion of the transaction, the chief financial officer now owns 76,393 shares in the company, valued at $6,679,039.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Craig L. Christensen sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $87.01, for a total value of $435,050.00. Following the completion of the sale, the senior vice president now owns 37,929 shares of the company’s stock, valued at approximately $3,300,202.29. The disclosure for this sale can be found here. Insiders have sold a total of 48,096 shares of company stock valued at $4,193,844 over the last 90 days. 3.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TTEK. State Street Corp raised its stake in Tetra Tech by 7.5% in the third quarter. State Street Corp now owns 1,740,929 shares of the industrial products company’s stock worth $151,043,000 after buying an additional 120,840 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Tetra Tech by 10.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,142,075 shares of the industrial products company’s stock worth $89,710,000 after purchasing an additional 107,339 shares during the last quarter. Northern Trust Corp raised its position in shares of Tetra Tech by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,003,402 shares of the industrial products company’s stock worth $78,816,000 after purchasing an additional 6,739 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Tetra Tech by 28.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 816,078 shares of the industrial products company’s stock worth $64,103,000 after purchasing an additional 182,242 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of Tetra Tech by 3,925.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 673,534 shares of the industrial products company’s stock worth $52,906,000 after purchasing an additional 656,802 shares during the last quarter. Hedge funds and other institutional investors own 84.21% of the company’s stock.
Tetra Tech stock traded down $0.58 during midday trading on Monday, hitting $85.93. 289,506 shares of the company’s stock were exchanged, compared to its average volume of 292,073. Tetra Tech has a 52-week low of $48.52 and a 52-week high of $90.34. The stock has a 50-day moving average price of $87.35 and a two-hundred day moving average price of $81.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $4.82 billion, a P/E ratio of 27.83, a PEG ratio of 1.66 and a beta of 1.07.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, November 13th. The industrial products company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Tetra Tech had a return on equity of 17.92% and a net margin of 5.11%. The business had revenue of $640.18 million during the quarter, compared to analysts’ expectations of $636.89 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts expect that Tetra Tech will post 3.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, November 29th. Tetra Tech’s dividend payout ratio is presently 18.93%.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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