KeyCorp Has Lowered Expectations for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK) had its target price reduced by KeyCorp from $56.00 to $49.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price indicates a potential upside of 18.73% from the company’s current price.

TTEK has been the topic of several other reports. Royal Bank of Canada raised their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Trading Up 0.8 %

NASDAQ:TTEK opened at $41.27 on Friday. The firm has a market capitalization of $11.05 billion, a P/E ratio of 33.50 and a beta of 0.94. The business has a 50 day simple moving average of $47.60 and a 200 day simple moving average of $44.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. Tetra Tech has a 12-month low of $30.92 and a 12-month high of $51.20.

Insider Buying and Selling

In other news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This trade represents a 24.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 over the last three months. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sarasin & Partners LLP raised its position in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares during the period. Geode Capital Management LLC raised its holdings in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after buying an additional 2,622,288 shares during the period. abrdn plc boosted its holdings in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after buying an additional 1,644,267 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.