Weekly Analysts’ Ratings Changes for Tetra Tech (TTEK)

Posted by Andrew Walz on Aug 20th, 2024

A number of firms have modified their ratings and price targets on shares of Tetra Tech (NASDAQ: TTEK) recently:

8/5/2024 – Tetra Tech was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
8/2/2024 – Tetra Tech had its price target raised by analysts at KeyCorp from $234.00 to $247.00. They now have an “overweight” rating on the stock.
8/2/2024 – Tetra Tech had its price target raised by analysts at Royal Bank of Canada from $233.00 to $259.00. They now have an “outperform” rating on the stock.
8/1/2024 – Tetra Tech had its price target raised by analysts at Robert W. Baird from $223.00 to $230.00. They now have a “neutral” rating on the stock.
7/19/2024 – Tetra Tech was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
7/11/2024 – Tetra Tech was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
7/9/2024 – Tetra Tech had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $233.00 price target on the stock.

Tetra Tech Stock Performance

NASDAQ TTEK traded down $0.97 on Tuesday, hitting $231.80. 22,516 shares of the company’s stock traded hands, compared to its average volume of 281,399. The firm has a market capitalization of $12.40 billion, a PE ratio of 46.92 and a beta of 0.93. Tetra Tech, Inc. has a 1-year low of $143.35 and a 1-year high of $234.94. The firm’s 50-day moving average price is $212.53 and its two-hundred day moving average price is $199.23. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52.

Tetra Tech’s stock is set to split before the market opens on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly issued shares will be payable to shareholders after the closing bell on Friday, September 6th.

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

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.29 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 0.50%. Tetra Tech’s payout ratio is 23.48%.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the completion of the sale, the executive vice president now directly owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Preston Hopson III sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 8,742 shares in the company, valued at $2,037,497.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leslie L. Shoemaker sold 11,161 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the sale, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,085 shares of company stock worth $7,611,238. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

Large investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Tetra Tech in the 1st quarter valued at about $27,000. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech in the second quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in shares of Tetra Tech during the 4th quarter worth $33,000. Principal Securities Inc. acquired a new stake in shares of Tetra Tech during the 4th quarter worth about $36,000. Finally, GAMMA Investing LLC acquired a new position in Tetra Tech in the fourth quarter valued at about $38,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.