Tetra Tech (NASDAQ:TTEK) Given New $45.00 Price Target at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its target price decreased by KeyCorp from $49.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on TTEK. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Robert W. Baird upped their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and an average price target of $48.52.

Tetra Tech Trading Up 0.6 %

Tetra Tech stock opened at $36.80 on Friday. The firm has a market cap of $9.86 billion, a PE ratio of 38.66 and a beta of 0.90. Tetra Tech has a 12 month low of $31.09 and a 12 month high of $51.20. The stock’s 50 day simple moving average is $40.75 and its two-hundred day simple moving average is $44.21. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.57%. Analysts anticipate that Tetra Tech will post 1.45 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.63%. Tetra Tech’s payout ratio is currently 24.16%.

Institutional Trading of Tetra Tech

A number of institutional investors have recently made changes to their positions in the company. Sarasin & Partners LLP lifted its holdings in Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after purchasing an additional 3,801,435 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after buying an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after buying an additional 2,622,288 shares in the last quarter. abrdn plc boosted its position in Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after acquiring an additional 1,618,211 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

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.