Tetra Tech (NASDAQ:TTEK) Price Target Cut to $49.00 by Analysts at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its target price cut by KeyCorp from $56.00 to $49.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective indicates a potential upside of 19.63% from the company’s previous close.

A number of other equities research analysts have also issued reports on TTEK. Royal Bank of Canada upped their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird upped their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.28.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $40.96 on Friday. 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 has a 1-year low of $30.92 and a 1-year high of $51.20. The company has a market cap of $10.96 billion, a PE ratio of 33.25 and a beta of 0.94. The stock’s 50 day simple moving average is $47.82 and its 200-day simple moving average is $44.55.

Insider Buying and Selling

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors have recently modified their holdings of TTEK. US Bancorp DE lifted its holdings in Tetra Tech by 43.3% during the 1st quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock worth $604,000 after buying an additional 988 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tetra Tech by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after purchasing an additional 14,701 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in Tetra Tech by 355.8% in the first quarter. Edgestream Partners L.P. now owns 9,302 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 7,261 shares in the last quarter. Covestor Ltd increased its stake in Tetra Tech by 421.1% in the first quarter. Covestor Ltd now owns 495 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 400 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in Tetra Tech by 8.3% during the first quarter. Bahl & Gaynor Inc. now owns 41,546 shares of the industrial products company’s stock worth $7,674,000 after purchasing an additional 3,200 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

About Tetra Tech

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.