Tetra Tech (NASDAQ:TTEK) Reaches New 1-Year High at $220.93

Tetra Tech, Inc. (NASDAQ:TTEK) shares reached a new 52-week high on Wednesday . The company traded as high as $220.93 and last traded at $220.39, with a volume of 8768 shares trading hands. The stock had previously closed at $218.55.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Maxim Group increased their price objective on shares of Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. KeyCorp increased their price objective on shares of Tetra Tech from $219.00 to $231.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $236.00.

Tetra Tech Stock Performance

The stock’s 50-day moving average price is $194.78 and its 200-day moving average price is $177.14. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $11.82 billion, a P/E ratio of 44.24 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the firm posted $1.17 EPS. As a group, equities analysts expect that Tetra Tech, Inc. will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a $0.29 dividend. The ex-dividend date is Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.53%. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Insider Activity at Tetra Tech

In related news, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the sale, the chief financial officer now directly owns 29,890 shares in the company, valued at approximately $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tetra Tech

Several large investors have recently bought and sold shares of TTEK. Contravisory Investment Management Inc. acquired a new position in Tetra Tech during the 4th quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of Tetra Tech in the 1st quarter worth approximately $27,000. Jones Financial Companies Lllp acquired a new position in shares of Tetra Tech in the 4th quarter worth approximately $33,000. Principal Securities Inc. acquired a new position in shares of Tetra Tech in the 4th quarter worth approximately $36,000. Finally, GAMMA Investing LLC acquired a new position in shares of Tetra Tech in the 4th quarter worth approximately $38,000. 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.