Tetra Tech, Inc. (NASDAQ:TTEK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $245.80.

TTEK has been the topic of a number of recent research reports. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Thursday. Maxim Group increased their target price on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Robert W. Baird raised their price objective on Tetra Tech from $223.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised their price objective on Tetra Tech from $233.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, KeyCorp raised their price objective on Tetra Tech from $234.00 to $247.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Tetra Tech Stock Up 0.8 %

Shares of NASDAQ:TTEK opened at $237.74 on Wednesday. Tetra Tech has a 1 year low of $143.35 and a 1 year high of $241.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The business’s 50-day moving average is $217.21 and its 200-day moving average is $203.17. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 48.13 and a beta of 0.93.

Tetra Tech shares are going to split before the market opens on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be distributed to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last posted 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. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. Equities research analysts predict that Tetra Tech will post 6.24 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.49%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is presently 23.48%.

Insider Activity

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $15,863,313.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Dan L. Batrack sold 17,924 shares of Tetra Tech stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $227.72, for a total value of $4,081,653.28. Following the completion of the sale, the chief executive officer now owns 24,877 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of 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. Insiders sold a total of 34,085 shares of company stock valued at $7,611,238 in the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently added to or reduced their stakes in TTEK. CWM LLC boosted its position in shares of Tetra Tech by 20.2% during the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 51 shares during the last quarter. ELCO Management Co. LLC boosted its position in shares of Tetra Tech by 4.8% during the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 60 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Tetra Tech by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 62 shares during the last quarter. CIBC Asset Management Inc lifted its position in Tetra Tech by 4.8% in the 2nd quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock worth $312,000 after buying an additional 70 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in Tetra Tech by 3.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock worth $456,000 after buying an additional 75 shares during the last quarter. 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.