Tetra Tech (NASDAQ:TTEK) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Tetra Tech (NASDAQ:TTEK) in a report released on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $233.00 target price on the industrial products company’s stock.

A number of other research firms also recently weighed in on TTEK. Maxim Group increased their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the company a buy rating in a research report on Thursday, May 16th. KeyCorp raised their price objective on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an overweight rating in a report on Thursday, May 23rd. Northcoast Research raised shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 price objective for the company in a report on Thursday, May 2nd. StockNews.com downgraded shares of Tetra Tech from a buy rating to a hold rating in a report on Wednesday, June 19th. Finally, Robert W. Baird raised their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a neutral rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech presently has an average rating of Moderate Buy and a consensus target price of $236.60.

Tetra Tech Trading Up 1.2 %

NASDAQ:TTEK opened at $202.73 on Tuesday. Tetra Tech has a 52 week low of $143.35 and a 52 week high of $221.40. The firm has a 50-day moving average price of $209.79 and a two-hundred day moving average price of $188.76. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 41.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24.

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

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.57%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of the transaction, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in shares of Tetra Tech during the 1st quarter valued at $27,000. Contravisory Investment Management Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $33,000. Principal Securities Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $38,000. Hedge funds and other institutional investors 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.