KeyCorp Cuts Tetra Tech (NASDAQ:TTEK) Price Target to $45.00

Tetra Tech (NASDAQ:TTEK) had its target price dropped by analysts at KeyCorp from $49.00 to $45.00 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 would suggest a potential upside of 22.75% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the stock 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, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average price target of $48.52.

Tetra Tech Price Performance

NASDAQ TTEK traded up $0.09 during mid-day trading on Friday, hitting $36.66. The stock had a trading volume of 1,948,818 shares, compared to its average volume of 3,219,883. The firm’s 50 day moving average is $40.83 and its 200 day moving average is $44.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 38.52 and a beta of 0.90. Tetra Tech has a twelve month low of $31.09 and a twelve month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.57%. Equities research analysts forecast that Tetra Tech will post 1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TTEK. Quarry LP acquired a new position in shares of Tetra Tech in the 2nd quarter worth approximately $54,000. Nordea Investment Management AB lifted its stake in Tetra Tech by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after purchasing an additional 411 shares in the last quarter. LGT Financial Advisors LLC boosted its position 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 worth $26,000 after buying an additional 444 shares during the period. Allworth Financial LP grew its stake in shares of Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Tetra Tech by 14.1% in the second quarter. AQR Capital Management LLC now owns 4,056 shares of the industrial products company’s stock valued at $829,000 after buying an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.