KeyCorp Issues Pessimistic Forecast for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK) had its target price decreased by analysts at KeyCorp from $56.00 to $49.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective suggests a potential upside of 19.63% from the company’s previous close.

A number of other equities analysts have also recently commented on TTEK. Royal Bank of Canada lifted their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.28.

Tetra Tech Trading Down 13.5 %

NASDAQ:TTEK opened at $40.96 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. Tetra Tech has a 52-week low of $30.92 and a 52-week high of $51.20. The stock’s 50 day moving average price is $47.82 and its 200 day moving average price is $44.55. The company has a market capitalization of $10.96 billion, a PE ratio of 33.25 and a beta of 0.94.

Insider Buying and Selling

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock valued at $5,633,239. Insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Large investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in shares of Tetra Tech by 43.3% in the first quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock worth $604,000 after buying an additional 988 shares during the period. Vanguard Group Inc. boosted its holdings in Tetra Tech by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after acquiring an additional 14,701 shares during the period. Edgestream Partners L.P. grew its position in Tetra Tech by 355.8% in the first quarter. Edgestream Partners L.P. now owns 9,302 shares of the industrial products company’s stock valued at $1,718,000 after acquiring an additional 7,261 shares in the last quarter. Covestor Ltd raised its stake in shares of Tetra Tech by 421.1% during the first quarter. Covestor Ltd now owns 495 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 400 shares during the period. Finally, Bahl & Gaynor Inc. lifted its position in shares of Tetra Tech by 8.3% during the first quarter. Bahl & Gaynor Inc. now owns 41,546 shares of the industrial products company’s stock worth $7,674,000 after purchasing an additional 3,200 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.