Tetra Tech (NASDAQ:TTEK) Upgraded to “Buy” at StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages have also recently weighed in on TTEK. Maxim Group boosted their price target on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. KeyCorp boosted their target price on Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird increased their price target on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.40.

Tetra Tech Stock Up 1.7 %

TTEK traded up $3.49 during midday trading on Friday, hitting $207.75. 402,949 shares of the company’s stock traded hands, compared to its average volume of 270,248. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. The stock’s fifty day simple moving average is $186.65 and its 200-day simple moving average is $171.64. Tetra Tech has a one year low of $132.29 and a one year high of $208.76.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.60%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $1.17 EPS. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities analysts anticipate that Tetra Tech will post 6.07 earnings per share for the current fiscal year.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the sale, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the transaction, the chief financial officer now directly owns 37,405 shares in the company, valued at $6,172,199.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the sale, the director now owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock worth $5,487,673 in the last ninety days. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tetra Tech

Hedge funds have recently made changes to their positions in the business. Sarasin & Partners LLP increased its stake in Tetra Tech by 2.6% in the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after acquiring an additional 32,053 shares during the period. Invesco Ltd. boosted its holdings in Tetra Tech by 6.2% during the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock valued at $133,731,000 after purchasing an additional 51,139 shares in the last quarter. Norges Bank bought a new stake in shares of Tetra Tech in the 4th quarter valued at approximately $96,655,000. Vontobel Holding Ltd. raised its holdings in shares of Tetra Tech by 2.8% in the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after buying an additional 14,334 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Tetra Tech by 8.8% during the 4th quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock worth $86,088,000 after buying an additional 41,860 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.