Tetra Tech (NASDAQ:TTEK) has been assigned a $87.00 price target by stock analysts at Maxim Group in a report issued on Thursday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Maxim Group’s price objective suggests a potential upside of 26.47% from the company’s current price.
The analysts wrote, “We believe TTEK’s 9% sequential change in backlog drove TTEK’s initial F2019 EPS guidance of $2.75-$2.95 to exceed our $2.65-$2.85 forecast.””
Several other equities analysts have also issued reports on TTEK. Zacks Investment Research lowered shares of Tetra Tech from a “hold” rating to a “sell” rating in a report on Monday, July 16th. BidaskClub lowered shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 17th. Canaccord Genuity reissued a “buy” rating and issued a $73.00 price target (up previously from $60.00) on shares of Tetra Tech in a report on Thursday, August 2nd. Finally, Roth Capital boosted their price target on shares of Tetra Tech from $59.00 to $73.00 and gave the company a “buy” rating in a report on Monday, August 6th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $70.71.
TTEK opened at $68.79 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 2.01. Tetra Tech has a 52 week low of $44.65 and a 52 week high of $72.56. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.98.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, November 7th. The industrial products company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Tetra Tech had a net margin of 4.62% and a return on equity of 15.91%. The firm had revenue of $563.67 million during the quarter, compared to analyst estimates of $571.33 million. During the same quarter in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts expect that Tetra Tech will post 2.87 EPS for the current year.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Tetra Tech by 3.1% in the 3rd quarter. BlackRock Inc. now owns 8,418,074 shares of the industrial products company’s stock valued at $574,955,000 after buying an additional 251,711 shares during the period. KAMES CAPITAL plc boosted its stake in Tetra Tech by 2.6% in the 3rd quarter. KAMES CAPITAL plc now owns 1,480,699 shares of the industrial products company’s stock worth $101,132,000 after purchasing an additional 37,262 shares during the period. Boston Partners boosted its stake in Tetra Tech by 0.4% in the 2nd quarter. Boston Partners now owns 1,054,385 shares of the industrial products company’s stock worth $61,682,000 after purchasing an additional 4,525 shares during the period. Macquarie Group Ltd. boosted its stake in Tetra Tech by 11.4% in the 2nd quarter. Macquarie Group Ltd. now owns 915,860 shares of the industrial products company’s stock worth $53,578,000 after purchasing an additional 93,785 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Tetra Tech by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 841,336 shares of the industrial products company’s stock worth $57,464,000 after purchasing an additional 8,402 shares during the period. 84.85% of the stock is owned by institutional investors.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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