Tetra Tech (NASDAQ:TTEK) PT Raised to $247.00

Tetra Tech (NASDAQ:TTEK) had its price objective upped by KeyCorp from $234.00 to $247.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

TTEK has been the topic of several other reports. StockNews.com cut Tetra Tech from a buy rating to a hold rating in a research note on Friday, July 19th. Maxim Group raised their price target on shares of Tetra Tech from $234.00 to $268.00 and gave the company a buy rating in a research report on Thursday, May 16th. Robert W. Baird boosted their price target on Tetra Tech from $223.00 to $230.00 and gave the stock a neutral rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $233.00 price objective on shares of Tetra Tech in a research report on Tuesday, July 9th. Finally, Northcoast Research upgraded shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price for the company in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Tetra Tech has a consensus rating of Moderate Buy and an average price target of $245.80.

Tetra Tech Price Performance

Shares of Tetra Tech stock opened at $225.43 on Friday. The company has a fifty day moving average of $208.22 and a 200-day moving average of $194.15. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.24 and a current ratio of 1.21. Tetra Tech has a 52-week low of $143.35 and a 52-week high of $234.94. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 45.63 and a beta of 0.93.

Tetra Tech shares are going to split on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be issued to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.05. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Equities research analysts expect that Tetra Tech will post 6.24 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 0.51%. Tetra Tech’s dividend payout ratio is presently 23.48%.

Insider Buying and Selling at Tetra Tech

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

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently added to or reduced their stakes in TTEK. CWM LLC raised its position in Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares during the period. GAMMA Investing LLC increased its holdings in Tetra Tech by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 62 shares during the period. AtonRa Partners raised its holdings in shares of Tetra Tech by 1.9% in the 4th quarter. AtonRa Partners now owns 3,454 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 65 shares in the last quarter. CIBC Asset Management Inc grew its stake in Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 70 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Tetra Tech by 2.5% during the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock worth $511,000 after buying an additional 74 shares during the last quarter. Hedge funds and other 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.