Short Interest in Tetra Tech, Inc. (NASDAQ:TTEK) Rises By 24.4%

Tetra Tech, Inc. (NASDAQ:TTEK) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,060,000 shares, a growth of 24.4% from the March 31st total of 852,100 shares. Based on an average daily volume of 270,300 shares, the days-to-cover ratio is currently 3.9 days. Approximately 2.0% of the company’s shares are short sold.

Tetra Tech Trading Up 1.0 %

TTEK stock traded up $1.98 during mid-day trading on Tuesday, reaching $195.18. The company’s stock had a trading volume of 308,631 shares, compared to its average volume of 261,951. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 45.24 and a beta of 0.96. The business’s 50 day moving average price is $184.83 and its 200 day moving average price is $170.68. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. Tetra Tech has a 12 month low of $132.29 and a 12 month high of $196.48.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. During the same period in the previous year, the company posted $1.34 earnings per share. On average, equities research analysts predict that Tetra Tech will post 6.07 EPS for the current year.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of analyst reports. Maxim Group raised their price objective on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada raised their price objective on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Finally, KeyCorp started coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.00.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now directly owns 10,985 shares in the company, valued at $1,946,981.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the transaction, the director now directly owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,123 shares of company stock worth $5,487,673. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

Hedge funds have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in Tetra Tech in the first quarter valued at approximately $27,000. Jones Financial Companies Lllp acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $33,000. Principal Securities Inc. acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $36,000. Finally, Millburn Ridgefield Corp acquired a new stake in Tetra Tech in the third quarter valued at approximately $37,000. Institutional investors and hedge funds 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.