Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Here’s What Happened

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) gapped down prior to trading on Thursday . The stock had previously closed at $37.67, but opened at $36.09. Tetra Tech shares last traded at $31.78, with a volume of 1,272,446 shares.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TTEK. KeyCorp lowered their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. Finally, Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Stock Down 4.2 %

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.67 billion, a PE ratio of 29.27 and a beta of 0.90. The company’s 50 day moving average is $40.91 and its two-hundred day moving average is $44.26.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 20.64% and a net margin of 6.41%. On average, analysts anticipate that Tetra Tech, Inc. will post 1.45 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.64%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently bought and sold shares of TTEK. AQR Capital Management LLC increased its holdings in shares of Tetra Tech by 14.1% in the 2nd quarter. AQR Capital Management LLC now owns 4,056 shares of the industrial products company’s stock worth $829,000 after buying an additional 502 shares during the last quarter. Quarry LP purchased a new stake in Tetra Tech during the second quarter valued at approximately $54,000. Point72 Asset Management L.P. lifted its stake in shares of Tetra Tech by 37.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,800 shares of the industrial products company’s stock valued at $982,000 after purchasing an additional 1,300 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Tetra Tech by 17.8% in the 2nd quarter. Cetera Investment Advisers now owns 10,137 shares of the industrial products company’s stock worth $2,073,000 after purchasing an additional 1,532 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Tetra Tech during the 2nd quarter valued at approximately $995,000. Institutional investors own 93.89% of the company’s stock.

About Tetra Tech

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.