Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) PT at $49.16

Tetra Tech, Inc. (NASDAQ:TTEK) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $49.16.

A number of analysts have weighed in on TTEK shares. KeyCorp increased their price target on shares of Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada upped their price target on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st.

Tetra Tech Stock Down 1.1 %

TTEK stock opened at $46.65 on Friday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.44 and a beta of 0.95. The company has a 50-day moving average of $45.44 and a two-hundred day moving average of $41.90. Tetra Tech has a 52-week low of $28.67 and a 52-week high of $48.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that Tetra Tech will post 1.25 EPS for the current year.

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a $0.058 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 0.50%. Tetra Tech’s dividend payout ratio is currently 4.66%.

Insider Activity at Tetra Tech

In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the transaction, the chief executive officer now directly owns 124,385 shares in the company, valued at $5,664,990.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at $5,664,990.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The disclosure for this sale can be found here. Insiders have sold a total of 236,370 shares of company stock valued at $10,880,243 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. bought a new position in Tetra Tech in the 4th quarter worth approximately $36,000. Quadrant Capital Group LLC raised its position in shares of Tetra Tech by 59.0% during the fourth quarter. Quadrant Capital Group LLC now owns 539 shares of the industrial products company’s stock worth $90,000 after acquiring an additional 200 shares during the last quarter. Norges Bank acquired a new position in shares of Tetra Tech during the fourth quarter valued at $96,655,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Tetra Tech by 4.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,393 shares of the industrial products company’s stock valued at $399,000 after acquiring an additional 98 shares during the period. Finally, UBS Group AG boosted its holdings in Tetra Tech by 10.9% in the fourth quarter. UBS Group AG now owns 36,681 shares of the industrial products company’s stock valued at $6,123,000 after acquiring an additional 3,600 shares during the last quarter. Institutional investors and hedge funds 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.