Tetra Tech (NASDAQ:TTEK) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.53 and traded as high as $49.01. Tetra Tech shares last traded at $48.33, with a volume of 892,062 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TTEK shares. Robert W. Baird upped their target price on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp upped their price objective on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.48.

Tetra Tech Price Performance

The company’s 50 day simple moving average is $47.40 and its 200 day simple moving average is $43.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market cap of $2.56 billion, a P/E ratio of 9.70 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $0.26 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts forecast that Tetra Tech, Inc. will post 1.25 earnings per share for the current year.

Tetra Tech Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s dividend payout ratio is 4.66%.

Insiders Place Their Bets

In related news, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of the transaction, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the transaction, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,370 shares of company stock worth $10,880,243 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after buying an additional 472 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech during the 2nd quarter valued at $28,000. USA Financial Formulas increased its stake in Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 545 shares during the last quarter. Rise Advisors LLC raised its position in Tetra Tech by 402.1% during the third quarter. Rise Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 579 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in Tetra Tech by 400.0% in the 3rd quarter. Sound Income Strategies LLC now owns 725 shares of the industrial products company’s stock worth $34,000 after buying an additional 580 shares during the last quarter. 93.89% of the stock is owned by 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.