Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have been assigned an average rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $86.00.
TTEK has been the subject of a number of recent research reports. ValuEngine cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Roth Capital increased their target price on Tetra Tech from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Cfra cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. Maxim Group increased their target price on Tetra Tech from $92.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th.
In related news, CFO Steven M. Burdick sold 27,500 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $81.18, for a total transaction of $2,232,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Craig L. Christensen sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.43, for a total value of $402,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,059 shares of company stock valued at $8,430,166 over the last ninety days. Insiders own 3.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its holdings in Tetra Tech by 10.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,142,075 shares of the industrial products company’s stock valued at $89,710,000 after purchasing an additional 107,339 shares in the last quarter. Northern Trust Corp increased its holdings in Tetra Tech by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,003,402 shares of the industrial products company’s stock valued at $78,816,000 after purchasing an additional 6,739 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Tetra Tech by 28.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 816,078 shares of the industrial products company’s stock valued at $64,103,000 after purchasing an additional 182,242 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Tetra Tech by 3,925.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 673,534 shares of the industrial products company’s stock valued at $52,906,000 after purchasing an additional 656,802 shares in the last quarter. Finally, Copeland Capital Management LLC increased its holdings in Tetra Tech by 13.9% during the 3rd quarter. Copeland Capital Management LLC now owns 528,034 shares of the industrial products company’s stock valued at $45,812,000 after purchasing an additional 64,590 shares in the last quarter. 85.73% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:TTEK traded up $0.75 during mid-day trading on Thursday, hitting $87.10. 429,800 shares of the company’s stock traded hands, compared to its average volume of 258,869. Tetra Tech has a 12 month low of $48.52 and a 12 month high of $90.34. The company has a current ratio of 1.43, a quick ratio of 1.73 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $86.41 and a two-hundred day moving average of $78.99. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, November 13th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. Tetra Tech had a return on equity of 17.92% and a net margin of 5.11%. The business had revenue of $640.18 million during the quarter, compared to analysts’ expectations of $636.89 million. During the same period in the prior year, the firm posted $0.75 EPS. Tetra Tech’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities research analysts expect that Tetra Tech will post 3.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.69%. Tetra Tech’s dividend payout ratio is 18.93%.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG 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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