Tetra Tech (NASDAQ:TTEK) Downgraded by Maxim Group to “Hold”

Maxim Group lowered shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, MarketBeat reports.

A number of other research firms also recently weighed in on TTEK. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird lifted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. KeyCorp dropped their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $48.52.

Tetra Tech Stock Performance

TTEK opened at $33.78 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 35.48 and a beta of 0.89. The business’s 50-day moving average price is $40.32 and its two-hundred day moving average price is $44.07. Tetra Tech has a 1 year low of $31.09 and a 1 year high of $51.20.

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

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s 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 completion of the sale, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TTEK. Sarasin & Partners LLP boosted its holdings in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after purchasing an additional 2,622,288 shares during the period. Robeco Schweiz AG grew its holdings in Tetra Tech by 26.5% in the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock valued at $97,603,000 after buying an additional 512,931 shares in the last quarter. Finally, abrdn plc increased its position in Tetra Tech by 7.6% during the 4th quarter. abrdn plc now owns 2,269,777 shares of the industrial products company’s stock worth $90,031,000 after buying an additional 159,701 shares during the period. Institutional investors and hedge funds 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.