Tetra Tech (NASDAQ:TTEK) Stock Rating Upgraded by StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

TTEK has been the subject of several other research reports. Robert W. Baird boosted their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Thursday, May 2nd. KeyCorp boosted their price objective on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $233.00 target price on shares of Tetra Tech in a report on Tuesday. Finally, Maxim Group lifted their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.60.

Tetra Tech Stock Up 1.2 %

Tetra Tech stock traded up $2.35 during trading on Thursday, reaching $202.73. The stock had a trading volume of 182,907 shares, compared to its average volume of 276,757. Tetra Tech has a 52-week low of $143.35 and a 52-week high of $221.40. The business has a 50 day moving average price of $209.79 and a 200 day moving average price of $188.76. 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 stock has a market cap of $10.85 billion, a PE ratio of 41.04 and a beta of 0.93.

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

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors have recently made changes to their positions in TTEK. Norges Bank purchased a new stake in shares of Tetra Tech during the 4th quarter worth $96,655,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Tetra Tech during the 4th quarter worth $82,209,000. International Assets Investment Management LLC boosted its position in shares of Tetra Tech by 16,621.9% during the 4th quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock worth $36,902,000 after purchasing an additional 219,742 shares in the last quarter. Sarasin & Partners LLP boosted its position in shares of Tetra Tech by 18.3% during the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after purchasing an additional 189,049 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of Tetra Tech by 320.6% during the 4th quarter. Schroder Investment Management Group now owns 164,503 shares of the industrial products company’s stock worth $27,460,000 after purchasing an additional 125,390 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.