Tetra Tech (NASDAQ:TTEK) Sets New 12-Month Low – Time to Sell?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week low on Wednesday . The stock traded as low as $30.13 and last traded at $30.47, with a volume of 79727 shares trading hands. The stock had previously closed at $30.53.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TTEK. KeyCorp dropped their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Stock Down 0.1 %

The firm has a market cap of $8.02 billion, a P/E ratio of 31.44 and a beta of 0.89. The firm’s 50-day moving average price is $37.97 and its 200 day moving average price is $43.26. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, equities research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.78%. Tetra Tech’s payout ratio is 24.16%.

Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently made changes to their positions in TTEK. Geode Capital Management LLC boosted its position in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the period. Norges Bank bought a new stake in Tetra Tech in the fourth quarter valued at $121,390,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Tetra Tech by 814.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company’s stock valued at $90,329,000 after acquiring an additional 2,019,295 shares during the period. abrdn plc increased its holdings in shares of Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the period. 93.89% of the stock is owned by 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.