Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) Price Target at $245.80

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $245.80.

Several brokerages have recently commented on TTEK. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research report on Thursday, May 2nd. Maxim Group upped 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. Robert W. Baird raised their price target on Tetra Tech from $223.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on Tetra Tech from $233.00 to $259.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Monday, August 5th.

Insider Buying and Selling

In related news, SVP Preston Hopson III sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $233.07, for a total transaction of $1,165,350.00. Following the sale, the senior vice president now directly owns 8,742 shares in the company, valued at $2,037,497.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tetra Tech news, SVP Preston Hopson III sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $233.07, for a total value of $1,165,350.00. Following the sale, the senior vice president now owns 8,742 shares in the company, valued at approximately $2,037,497.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan L. Batrack sold 17,924 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $227.72, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 24,877 shares of the company’s stock, valued at $5,664,990.44. The disclosure for this sale can be found here. In the last three months, insiders sold 34,085 shares of company stock valued at $7,611,238. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Tetra Tech by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after buying an additional 14,701 shares during the last quarter. Sarasin & Partners LLP grew its position in shares of Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after acquiring an additional 32,053 shares during the period. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 144,706 shares during the last quarter. Ninety One UK Ltd bought a new stake in shares of Tetra Tech in the 2nd quarter valued at about $135,897,000. Finally, Norges Bank acquired a new stake in Tetra Tech in the 4th quarter valued at about $96,655,000. 93.89% of the stock is owned by institutional investors.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK traded down $4.87 during midday trading on Friday, reaching $226.89. The company’s stock had a trading volume of 347,277 shares, compared to its average volume of 286,398. The business’s fifty day simple moving average is $209.86 and its 200-day simple moving average is $195.97. The company has a market capitalization of $12.15 billion, a P/E ratio of 45.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.24. Tetra Tech has a fifty-two week low of $143.35 and a fifty-two week high of $234.94.

Shares of Tetra Tech are scheduled to split on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly issued shares will be issued to shareholders after the market closes on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.05. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, equities research analysts expect that Tetra Tech will post 6.24 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

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.