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

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a report issued on Tuesday morning.

Several other research analysts have also recently issued reports on the company. KeyCorp raised their target price on Tetra Tech from $49.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an outperform rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a neutral rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $50.48.

Tetra Tech Stock Up 0.1 %

Shares of Tetra Tech stock opened at $49.06 on Tuesday. Tetra Tech has a twelve month low of $28.67 and a twelve month high of $50.03. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $46.82 and its 200 day moving average is $42.89. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 9.93 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Research analysts anticipate that Tetra Tech will post 1.25 EPS for the current year.

Tetra Tech Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s payout ratio is 4.66%.

Insider Buying and Selling at Tetra Tech

In other news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the sale, the chief executive officer now directly owns 124,380 shares of the company’s stock, valued at $5,664,762.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Steven M. Burdick sold 36,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,380 shares of the company’s stock, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock valued at $10,880,243 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new stake in Tetra Tech in the 1st quarter worth $27,000. Banque Cantonale Vaudoise bought a new stake in shares of Tetra Tech in the second quarter worth about $28,000. USA Financial Formulas lifted its position in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after buying an additional 545 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Tetra Tech by 400.0% during the third quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock valued at $34,000 after buying an additional 580 shares during the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in Tetra Tech during the 4th quarter valued at approximately $38,000. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Company Profile

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.