Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other research firms have also recently commented on TTEK. KeyCorp upped their price objective on Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their price objective on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Maxim Group upped their price target on Tetra Tech from $46.80 to $53.60 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, Robert W. Baird upped their price target on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.16.

Tetra Tech Trading Down 3.4 %

Tetra Tech stock opened at $225.23 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $47.46 and its two-hundred day simple moving average is $42.23. Tetra Tech has a 12 month low of $143.35 and a 12 month high of $241.31. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 45.59 and a beta of 0.95.

Tetra Tech shares are scheduled to split on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly created 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 $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts predict that Tetra Tech will post 6.24 earnings per share for the current fiscal year.

Insider Transactions at Tetra Tech

In other news, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the completion of the transaction, the senior vice president now owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of the transaction, the senior vice president now directly owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at $5,664,990.44. The disclosure for this sale can be found here. Insiders sold a total of 170,425 shares of company stock valued at $7,611,238 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Tetra Tech in the 1st quarter valued at approximately $27,000. Banque Cantonale Vaudoise bought a new stake in shares of Tetra Tech in the 2nd quarter valued at approximately $28,000. Jones Financial Companies Lllp bought a new stake in shares of Tetra Tech in the 4th quarter valued at approximately $33,000. Principal Securities Inc. bought a new stake in shares of Tetra Tech in the 4th quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of Tetra Tech in the 4th quarter valued at approximately $38,000. 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.