Tetra Tech, Inc. (TTEK) Rating Reiterated by Boenning Scattergood
Tetra Tech, Inc. (NASDAQ:TTEK)‘s stock had its “buy” rating restated by equities research analysts at Boenning Scattergood in a research report issued on Thursday. They currently have a $54.00 target price on the industrial products company’s stock. Boenning Scattergood’s price target would indicate a potential upside of 11.34% from the company’s current price. Boenning Scattergood also issued estimates for Tetra Tech’s Q1 2018 earnings at $0.51 EPS, Q2 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $2.30 EPS.
A number of other equities analysts also recently issued reports on TTEK. Roth Capital set a $52.00 price objective on Tetra Tech and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, August 4th. Robert W. Baird restated a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research report on Tuesday, September 5th. Finally, Stifel Nicolaus restated a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Tetra Tech presently has an average rating of “Hold” and a consensus target price of $52.29.
Tetra Tech (NASDAQ TTEK) opened at $48.50 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.94 and a quick ratio of 1.97. The company has a market capitalization of $2,689.02, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. Tetra Tech has a 1 year low of $38.45 and a 1 year high of $50.15.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $533.00 million during the quarter, compared to the consensus estimate of $517.90 million. Tetra Tech had a return on equity of 13.42% and a net margin of 4.28%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. equities research analysts anticipate that Tetra Tech will post 2.11 EPS for the current fiscal year.
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In related news, insider Ronald J. Chu sold 696 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $50.00, for a total transaction of $34,800.00. Following the completion of the sale, the insider now owns 37,800 shares of the company’s stock, valued at $1,890,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ronald J. Chu sold 14,112 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total value of $705,600.00. Following the sale, the insider now directly owns 51,216 shares of the company’s stock, valued at approximately $2,560,800. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTEK. Koch Industries Inc. acquired a new stake in Tetra Tech during the second quarter worth approximately $506,000. Vanguard Group Inc. grew its stake in Tetra Tech by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock worth $212,946,000 after purchasing an additional 302,821 shares during the period. Premier Asset Management LLC acquired a new stake in Tetra Tech during the second quarter worth approximately $7,249,000. PDT Partners LLC acquired a new stake in Tetra Tech during the second quarter worth approximately $6,519,000. Finally, Janus Henderson Group PLC grew its stake in Tetra Tech by 270.8% during the second quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock worth $8,833,000 after purchasing an additional 141,066 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.
About Tetra Tech
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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