Maxim Group Reaffirms Buy Rating for Tetra Tech (TTEK)
Maxim Group reiterated their buy rating on shares of Tetra Tech (NASDAQ:TTEK) in a research report released on Friday morning. They currently have a $87.00 price objective on the industrial products company’s stock.
“In TTEK’s upcoming earnings report on January 30th, post-close, we forecast $0.61 relative to the $0.62 consensus and within the guidance range of $0.60-$0.65.”,” the firm’s analyst commented.
TTEK has been the topic of a number of other reports. Zacks Investment Research reaffirmed a hold rating on shares of Tetra Tech in a report on Saturday, November 17th. BidaskClub cut Tetra Tech from a hold rating to a sell rating in a research note on Tuesday, December 4th. Robert W. Baird lifted their price target on Tetra Tech from $63.00 to $70.00 and gave the stock a hold rating in a research note on Thursday, November 8th. Finally, Boenning Scattergood reissued a buy rating and issued a $80.00 price target on shares of Tetra Tech in a research note on Thursday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Tetra Tech has an average rating of Buy and a consensus price target of $70.43.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $563.67 million for the quarter, compared to analyst estimates of $571.33 million. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. Tetra Tech’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 earnings per share. Sell-side analysts anticipate that Tetra Tech will post 2.88 earnings per share for the current fiscal year.
In other news, SVP Craig L. Christensen sold 6,750 shares of Tetra Tech stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $65.98, for a total transaction of $445,365.00. Following the completion of the sale, the senior vice president now directly owns 34,400 shares in the company, valued at approximately $2,269,712. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kirsten M. Volpi sold 1,200 shares of Tetra Tech stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total value of $80,328.00. Following the sale, the director now owns 8,801 shares of the company’s stock, valued at $589,138.94. The disclosure for this sale can be found here. Insiders have sold a total of 77,382 shares of company stock valued at $4,830,265 over the last 90 days. Corporate insiders own 3.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in TTEK. Steward Partners Investment Advisory LLC lifted its holdings in shares of Tetra Tech by 303.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after buying an additional 1,215 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Tetra Tech by 4,747.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 1,614 shares during the last quarter. Smithfield Trust Co. lifted its holdings in Tetra Tech by 70.1% in the 3rd quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 940 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in Tetra Tech in the 2nd quarter worth approximately $205,000. Finally, M Holdings Securities Inc. acquired a new stake in Tetra Tech in the 2nd quarter worth approximately $222,000. Institutional investors and hedge funds own 84.49% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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