Tetra Tech, Inc. (NASDAQ:TTEK) Given Consensus Rating of “Hold” by Brokerages
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have been given an average rating of “Hold” by the nine research firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $49.57.
Several equities research analysts have recently commented on the stock. Roth Capital set a $52.00 target price on shares of Tetra Tech and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Tuesday, July 4th. Canaccord Genuity restated a “buy” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Wednesday, June 7th. Sidoti restated a “buy” rating and issued a $58.00 target price (up previously from $55.00) on shares of Tetra Tech in a research note on Sunday, May 14th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $50.00 target price on shares of Tetra Tech in a research note on Friday, July 7th.
In related news, CFO Steven M. Burdick sold 16,750 shares of Tetra Tech stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total value of $751,572.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its position in Tetra Tech by 194.9% in the second quarter. Advisor Group Inc. now owns 3,279 shares of the industrial products company’s stock worth $150,000 after buying an additional 2,167 shares in the last quarter. Strs Ohio boosted its position in Tetra Tech by 45.2% in the second quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock worth $205,000 after buying an additional 1,400 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in Tetra Tech during the second quarter worth about $206,000. Victory Capital Management Inc. acquired a new position in Tetra Tech during the first quarter worth about $185,000. Finally, Teacher Retirement System of Texas acquired a new position in Tetra Tech during the second quarter worth about $210,000. 84.96% of the stock is owned by institutional investors and hedge funds.
Tetra Tech (NASDAQ TTEK) traded up 2.45% during mid-day trading on Friday, hitting $41.80. 351,335 shares of the company were exchanged. Tetra Tech has a 12-month low of $33.55 and a 12-month high of $48.35. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 21.19 and a beta of 1.03. The stock’s 50 day moving average is $45.50 and its 200-day moving average is $43.58.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. The firm had revenue of $498.47 million during the quarter, compared to analyst estimates of $535.18 million. During the same quarter in the prior year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts predict that Tetra Tech will post $2.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.96%. Tetra Tech’s dividend payout ratio is 20.30%.
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Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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