Tetra Tech (TTEK) Rating Reiterated by Maxim Group
Maxim Group reissued their buy rating on shares of Tetra Tech (NASDAQ:TTEK) in a research report released on Wednesday morning, AnalystRatings.com reports. They currently have a $87.00 price target on the industrial products company’s stock.
“We increase our F2Q19 net revenue (revenue less subcontractor costs) forecast to $551 million from $530 million, and our Exponent (EXPO – Not Rated) reported quarterly results last Thursday after the market close.”,” Maxim Group’s analyst wrote.
TTEK has been the subject of a number of other research reports. ValuEngine upgraded shares of Tetra Tech from a hold rating to a buy rating in a research note on Friday, February 8th. Sidoti began coverage on shares of Tetra Tech in a research note on Tuesday, April 9th. They issued a buy rating for the company. Zacks Investment Research upgraded shares of Tetra Tech from a hold rating to a buy rating and set a $57.00 target price for the company in a research note on Saturday, January 5th. BidaskClub upgraded shares of Tetra Tech from a strong sell rating to a sell rating in a research note on Friday, April 19th. Finally, Roth Capital cut their target price on shares of Tetra Tech from $73.00 to $66.00 and set a buy rating for the company in a research note on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $72.83.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Tetra Tech had a net margin of 4.55% and a return on equity of 16.02%. The company had revenue of $553.36 million during the quarter, compared to analysts’ expectations of $558.46 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Tetra Tech’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that Tetra Tech will post 2.96 EPS for the current fiscal year.
In related news, Director J Christopher Lewis sold 3,261 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $55.69, for a total value of $181,605.09. Following the completion of the transaction, the director now owns 59,269 shares in the company, valued at approximately $3,300,690.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Craig L. Christensen sold 3,925 shares of the business’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $55.00, for a total transaction of $215,875.00. Following the completion of the transaction, the senior vice president now owns 40,116 shares of the company’s stock, valued at approximately $2,206,380. The disclosure for this sale can be found here. Insiders sold a total of 73,484 shares of company stock valued at $4,317,047 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of TTEK. Norges Bank bought a new position in Tetra Tech in the 4th quarter worth approximately $98,489,000. Copeland Capital Management LLC acquired a new stake in Tetra Tech during the 1st quarter worth $22,608,000. Morgan Stanley grew its holdings in Tetra Tech by 51.8% during the 3rd quarter. Morgan Stanley now owns 520,396 shares of the industrial products company’s stock worth $35,544,000 after acquiring an additional 177,506 shares during the period. BlackRock Inc. grew its holdings in Tetra Tech by 1.7% during the 4th quarter. BlackRock Inc. now owns 8,557,320 shares of the industrial products company’s stock worth $443,014,000 after acquiring an additional 139,246 shares during the period. Finally, Millennium Management LLC grew its holdings in Tetra Tech by 42.1% during the 4th quarter. Millennium Management LLC now owns 302,340 shares of the industrial products company’s stock worth $15,652,000 after acquiring an additional 89,503 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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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