Tetra Tech, Inc. (NASDAQ:TTEK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Tetra Tech, Inc. (NASDAQ:TTEKGet Free Report) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $236.60.

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Robert W. Baird upped their price objective on Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Maxim Group raised their target price on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Royal Bank of Canada increased their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, KeyCorp boosted their price objective on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd.

Read Our Latest Research Report on TTEK

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $207.69 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $11.11 billion, a PE ratio of 42.04 and a beta of 0.98. The stock’s 50 day moving average price is $204.79 and its 200-day moving average price is $184.22. Tetra Tech has a twelve month low of $143.35 and a twelve month high of $221.40.

Tetra Tech (NASDAQ:TTEKGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. On average, equities analysts anticipate that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a $0.29 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.56%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Insider Buying and Selling at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of the transaction, the executive vice president now directly owns 74,887 shares in the company, valued at $15,863,313.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently made changes to their positions in TTEK. Cetera Advisors LLC bought a new position in Tetra Tech in the 1st quarter worth about $208,000. Cetera Investment Advisers increased its position in shares of Tetra Tech by 90.8% in the first quarter. Cetera Investment Advisers now owns 8,605 shares of the industrial products company’s stock worth $1,589,000 after purchasing an additional 4,096 shares during the last quarter. Strategic Wealth Partners Ltd. raised its stake in Tetra Tech by 10.7% in the first quarter. Strategic Wealth Partners Ltd. now owns 7,806 shares of the industrial products company’s stock valued at $1,442,000 after purchasing an additional 754 shares in the last quarter. iA Global Asset Management Inc. lifted its position in Tetra Tech by 3.5% during the first quarter. iA Global Asset Management Inc. now owns 3,518 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 119 shares during the last quarter. Finally, Vancity Investment Management Ltd grew its stake in Tetra Tech by 33.1% in the 1st quarter. Vancity Investment Management Ltd now owns 6,627 shares of the industrial products company’s stock worth $1,224,000 after buying an additional 1,649 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

About Tetra Tech

(Get Free Report

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.

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Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

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