Tetra Tech (NASDAQ:TTEK) Stock Rating Upgraded by StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

TTEK has been the topic of a number of other reports. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a report on Thursday, May 2nd. Robert W. Baird increased their target price on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Royal Bank of Canada reissued an “outperform” rating and set a $233.00 target price on shares of Tetra Tech in a report on Tuesday. KeyCorp increased their target price on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Maxim Group increased their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average target price of $236.60.

Tetra Tech Stock Up 1.2 %

TTEK traded up $2.35 during trading on Thursday, hitting $202.73. The company had a trading volume of 182,907 shares, compared to its average volume of 276,757. The company has a market cap of $10.85 billion, a PE ratio of 41.04 and a beta of 0.93. The business has a 50-day moving average of $209.79 and a 200-day moving average of $188.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. Tetra Tech has a 1-year low of $143.35 and a 1-year high of $221.40.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. As a group, analysts forecast that Tetra Tech will post 6.2 earnings per share for the current year.

Insider Transactions at Tetra Tech

In related news, EVP Leslie L. Shoemaker sold 11,161 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of the transaction, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Retirement Systems of Alabama grew its position in Tetra Tech by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock valued at $12,921,000 after buying an additional 205 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Tetra Tech by 2.5% during the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock valued at $57,127,000 after purchasing an additional 8,394 shares in the last quarter. Jump Financial LLC boosted its position in shares of Tetra Tech by 743.1% during the 4th quarter. Jump Financial LLC now owns 22,232 shares of the industrial products company’s stock valued at $3,711,000 after purchasing an additional 19,595 shares in the last quarter. Spire Wealth Management boosted its position in shares of Tetra Tech by 1,054.4% during the 4th quarter. Spire Wealth Management now owns 22,650 shares of the industrial products company’s stock valued at $3,706,000 after purchasing an additional 20,688 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Tetra Tech by 95.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock valued at $2,733,000 after purchasing an additional 8,791 shares in the last quarter. 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.