Tetra Tech (NASDAQ:TTEK) Hits New 1-Year Low – What’s Next?

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $29.23 and last traded at $29.60, with a volume of 504581 shares trading hands. The stock had previously closed at $29.64.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTEK. Robert W. Baird raised their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research 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. KeyCorp lowered their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Tetra Tech has an average rating of “Moderate Buy” and an average target price of $47.92.

Tetra Tech Trading Down 1.8 %

The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 30.66 and a beta of 0.89. The business has a 50-day moving average of $36.62 and a two-hundred day moving average of $42.60. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s payout ratio is 24.21%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Allworth Financial LP raised its stake in shares of Tetra Tech by 629.3% in the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares during the last quarter. LGT Financial Advisors LLC raised its stake in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 444 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares during the last quarter. Canton Hathaway LLC raised its position in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in Tetra Tech by 400.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock worth $33,000 after buying an additional 556 shares in the last quarter. Institutional investors 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.