Robert W. Baird Issues Positive Forecast for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK) had its price objective hoisted by Robert W. Baird from $31.00 to $33.00 in a report issued on Thursday,Benzinga reports. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently weighed in on TTEK. KeyCorp lowered their price target on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Finally, Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.15.

Tetra Tech Stock Performance

TTEK opened at $35.49 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech has a 12-month low of $27.27 and a 12-month high of $51.20. The business has a 50 day moving average of $30.07 and a 200-day moving average of $36.39. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 37.28 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.28 EPS. The company’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities research analysts expect that Tetra Tech will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be paid a $0.065 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech’s payout ratio is 24.21%.

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds have recently added to or reduced their stakes in the stock. Sarasin & Partners LLP acquired a new stake in shares of Tetra Tech during the 1st quarter worth $144,799,000. Norges Bank acquired a new stake in Tetra Tech during the fourth quarter worth about $121,390,000. Jacobs Levy Equity Management Inc. increased its holdings in Tetra Tech by 814.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company’s stock valued at $90,329,000 after buying an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC raised its position in shares of Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company’s stock valued at $96,012,000 after buying an additional 1,443,939 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tetra Tech by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company’s stock worth $795,185,000 after acquiring an additional 1,273,692 shares during the period. Institutional investors own 93.89% of the company’s stock.

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.