Tetra Technologies, Inc. (NYSE:TTI) Given Consensus Rating of “Buy” by Brokerages
Shares of Tetra Technologies, Inc. (NYSE:TTI) have been assigned a consensus recommendation of “Buy” from the fifteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.72.
A number of analysts recently issued reports on the stock. Royal Bank Of Canada set a $5.00 target price on shares of Tetra Technologies and gave the stock a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research lowered shares of Tetra Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub lowered shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley decreased their target price on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st.
Tetra Technologies (TTI) traded down 2.93% during mid-day trading on Friday, hitting $1.99. 1,570,740 shares of the stock traded hands. The stock’s 50 day moving average is $2.69 and its 200-day moving average is $3.56. The company’s market cap is $230.64 million. Tetra Technologies has a 12 month low of $1.99 and a 12 month high of $6.77.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.03. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The firm had revenue of $208.37 million for the quarter, compared to analyst estimates of $204.19 million. During the same quarter last year, the business posted ($0.15) EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that Tetra Technologies will post ($0.17) EPS for the current year.
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Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Tetra Technologies by 107.2% in the first quarter. FMR LLC now owns 12,007,494 shares of the oil and gas company’s stock worth $48,870,000 after buying an additional 6,213,696 shares in the last quarter. Norges Bank purchased a new stake in Tetra Technologies during the fourth quarter valued at about $15,354,000. Formula Growth Ltd. increased its stake in Tetra Technologies by 51.9% in the second quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock valued at $10,495,000 after buying an additional 1,284,629 shares during the period. Vanguard Group Inc. increased its stake in Tetra Technologies by 12.0% in the first quarter. Vanguard Group Inc. now owns 9,969,136 shares of the oil and gas company’s stock valued at $40,573,000 after buying an additional 1,068,050 shares during the period. Finally, Boston Partners increased its stake in Tetra Technologies by 20.6% in the first quarter. Boston Partners now owns 4,787,164 shares of the oil and gas company’s stock valued at $19,483,000 after buying an additional 818,520 shares during the period. 93.54% of the stock is currently owned by institutional investors and hedge funds.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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