Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research note published on Tuesday.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird raised their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, KeyCorp raised their target price on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $50.48.

Tetra Tech Stock Performance

Shares of TTEK opened at $48.83 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. Tetra Tech has a one year low of $28.67 and a one year high of $50.03. The company has a 50-day simple moving average of $47.08 and a two-hundred day simple moving average of $43.23. The firm has a market capitalization of $2.61 billion, a PE ratio of 9.88 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted $0.26 earnings per share. Tetra Tech’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts anticipate that Tetra Tech will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is currently 4.66%.

Insider Activity at Tetra Tech

In related news, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the sale, the chief executive officer now owns 124,380 shares of the company’s stock, valued at $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the sale, the chief executive officer now owns 124,380 shares in the company, valued at $5,664,762.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,370 shares of company stock valued at $10,880,243 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Tetra Tech by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after purchasing an additional 14,701 shares during the last quarter. Sarasin & Partners LLP boosted its stake in shares of Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Tetra Tech by 409.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock worth $67,231,000 after acquiring an additional 1,145,738 shares during the last quarter. Rheos Capital Works Inc. boosted its stake in shares of Tetra Tech by 400.0% during the 3rd quarter. Rheos Capital Works Inc. now owns 684,000 shares of the industrial products company’s stock worth $32,257,000 after acquiring an additional 547,200 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Tetra Tech by 27.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock worth $138,459,000 after acquiring an additional 144,706 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.