Northcoast Research Reiterates Neutral Rating for Tetra Tech (NASDAQ:TTEK)

Northcoast Research reissued their neutral rating on shares of Tetra Tech (NASDAQ:TTEK) in a research note published on Wednesday morning, MarketBeat reports.

Several other equities research analysts have also recently weighed in on TTEK. KeyCorp boosted their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Royal Bank Of Canada set a $47.00 target price on Tetra Tech and gave the stock an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.00.

Tetra Tech Stock Performance

Shares of TTEK opened at $33.74 on Wednesday. The stock has a 50-day simple moving average of $35.88 and a 200-day simple moving average of $34.39. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $8.87 billion, a PE ratio of 42.18 and a beta of 0.94. Tetra Tech has a 1 year low of $27.27 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. On average, analysts predict that Tetra Tech will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.065 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. Tetra Tech’s payout ratio is currently 32.50%.

Insiders Place Their Bets

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the sale, the director owned 37,725 shares in the company, valued at approximately $1,358,100. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Tetra Tech by 4.9% in the first quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company’s stock valued at $795,185,000 after purchasing an additional 1,273,692 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Tetra Tech by 3.5% in the first quarter. Pictet Asset Management Holding SA now owns 14,502,940 shares of the industrial products company’s stock valued at $424,209,000 after purchasing an additional 484,053 shares during the period. Sands Capital Management LLC increased its holdings in shares of Tetra Tech by 26.5% in the second quarter. Sands Capital Management LLC now owns 5,200,335 shares of the industrial products company’s stock valued at $187,004,000 after purchasing an additional 1,089,599 shares during the period. Sarasin & Partners LLP increased its holdings in shares of Tetra Tech by 1.2% in the second quarter. Sarasin & Partners LLP now owns 4,683,576 shares of the industrial products company’s stock valued at $168,421,000 after purchasing an additional 55,012 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Tetra Tech by 84.9% in the second quarter. Corient Private Wealth LLC now owns 4,021,788 shares of the industrial products company’s stock valued at $147,095,000 after purchasing an additional 1,847,087 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.