Tetra Tech (NASDAQ:TTEK) Price Target Raised to $234.00

Tetra Tech (NASDAQ:TTEK) had its price target hoisted by KeyCorp from $231.00 to $234.00 in a report released on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Other research analysts also recently issued reports about the stock. Northcoast Research raised shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 price target for the company in a report on Thursday, May 2nd. Royal Bank of Canada raised their price target on shares of Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a report on Friday, May 3rd. StockNews.com raised shares of Tetra Tech from a hold rating to a buy rating in a report on Tuesday, May 14th. Maxim Group raised their price target on shares of Tetra Tech from $234.00 to $268.00 and gave the company a buy rating in a report on Thursday, May 16th. Finally, Robert W. Baird raised their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the company a neutral rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $236.60.

Tetra Tech Stock Up 0.8 %

TTEK opened at $217.88 on Thursday. The company has a 50 day moving average of $197.04 and a 200 day moving average of $178.17. The company has a market cap of $11.66 billion, a PE ratio of 44.11 and a beta of 0.93. Tetra Tech has a 12 month low of $132.29 and a 12 month high of $221.40. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.29 by $0.13. The company had revenue of $1.05 billion during 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%. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the firm earned $1.17 EPS. On average, sell-side analysts expect that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

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

Institutional Trading of Tetra Tech

Several hedge funds have recently added to or reduced their stakes in TTEK. Cambridge Investment Research Advisors Inc. lifted its stake in Tetra Tech by 7.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 134 shares during the last quarter. Fifth Third Bancorp lifted its stake in Tetra Tech by 39.1% in the third quarter. Fifth Third Bancorp now owns 718 shares of the industrial products company’s stock worth $109,000 after purchasing an additional 202 shares during the last quarter. Private Advisor Group LLC bought a new stake in Tetra Tech in the third quarter worth $220,000. Victory Capital Management Inc. lifted its stake in Tetra Tech by 2.9% in the third quarter. Victory Capital Management Inc. now owns 9,464 shares of the industrial products company’s stock worth $1,439,000 after purchasing an additional 267 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in Tetra Tech in the third quarter worth $313,000. 93.89% of the stock is owned by institutional investors.

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.