Tetra Tech, Inc. (NASDAQ:TTEK) Receives Consensus Rating of “Moderate Buy” from Analysts

Tetra Tech, Inc. (NASDAQ:TTEK) has been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $49.32.

TTEK has been the subject of several analyst reports. KeyCorp lowered their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th.

Institutional Trading of Tetra Tech

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sarasin & Partners LLP grew its holdings in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after purchasing an additional 3,801,435 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after acquiring an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Tetra Tech by 387.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc raised its stake in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after acquiring an additional 1,644,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $41.75 on Friday. The company’s 50-day moving average is $45.73 and its two-hundred day moving average is $44.52. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of 33.94 and a beta of 0.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. Tetra Tech has a 1-year low of $31.61 and a 1-year high of $51.20.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is 18.70%.

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.