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

Tetra Tech (NASDAQ:TTEK) had its target price increased by equities researchers at Robert W. Baird from $46.00 to $47.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would indicate a potential downside of 0.74% from the stock’s current price.

TTEK has been the subject of several other reports. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. 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. Finally, KeyCorp boosted their price objective on Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech has a consensus rating of “Moderate Buy” and an average target price of $50.68.

Tetra Tech Stock Down 1.9 %

Shares of TTEK opened at $47.35 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech has a one year low of $30.92 and a one year high of $51.20. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 43.76 and a beta of 0.94. The stock has a 50 day moving average price of $47.82 and a 200 day moving average price of $44.55.

Insiders Place Their Bets

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction 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 approximately $5,244,713.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 in the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

Hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Tetra Tech by 561.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after buying an additional 174 shares during the period. Family Firm Inc. acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at approximately $51,000. Quarry LP acquired a new stake in shares of Tetra Tech in the 2nd quarter valued at approximately $54,000. Finally, 1832 Asset Management L.P. increased its stake in Tetra Tech by 125.8% in the 1st quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 151 shares in the last quarter. 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.