Tetra Tech’s (TTEK) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Tetra Tech (NASDAQ:TTEK) in a research report report published on Friday,Benzinga reports. Royal Bank of Canada currently has a $52.00 price objective on the industrial products company’s stock.

Several other research analysts have also recently weighed in on TTEK. Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. KeyCorp decreased their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Price Performance

Tetra Tech stock traded up $0.31 during mid-day trading on Friday, reaching $41.27. 4,176,228 shares of the company were exchanged, compared to its average volume of 2,323,584. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. The firm has a market cap of $11.05 billion, a PE ratio of 33.50 and a beta of 0.94. The company has a fifty day simple moving average of $47.60 and a 200-day simple moving average of $44.58. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20.

Tetra Tech Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is currently 18.67%.

Insider Activity

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. This trade represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its stake in shares of Tetra Tech by 630.8% during the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 31,445 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in Tetra Tech by 615.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock valued at $1,052,000 after purchasing an additional 19,193 shares during the period. SFE Investment Counsel lifted its holdings in shares of Tetra Tech by 374.8% during the 3rd quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock worth $1,713,000 after acquiring an additional 28,679 shares during the period. VELA Investment Management LLC grew its holdings in shares of Tetra Tech by 703.9% during the 3rd quarter. VELA Investment Management LLC now owns 58,510 shares of the industrial products company’s stock valued at $2,759,000 after purchasing an additional 51,232 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Tetra Tech by 401.8% in the third quarter. US Bancorp DE now owns 17,093 shares of the industrial products company’s stock valued at $806,000 after acquiring an additional 13,687 shares during the last quarter. 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.