Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Here’s What Happened

Tetra Tech, Inc. (NASDAQ:TTEK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $47.35, but opened at $43.10. Tetra Tech shares last traded at $43.92, with a volume of 1,328,776 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. KeyCorp raised their price objective on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average price target of $50.68.

Tetra Tech Stock Down 10.5 %

The company has a 50-day simple moving average of $47.82 and a 200-day simple moving average of $44.55. The firm has a market cap of $11.35 billion, a PE ratio of 40.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’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 completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the sale, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 $13,649,251.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock worth $5,633,239 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares in the last quarter. LGT Financial Advisors LLC raised its stake in shares of Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Tetra Tech during the second quarter valued at approximately $28,000. Venturi Wealth Management LLC raised its stake in shares of Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC raised its stake in shares of Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 516 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.