Maxim Group Downgrades Tetra Tech (NASDAQ:TTEK) to Hold

Tetra Tech (NASDAQ:TTEK) was downgraded by equities research analysts at Maxim Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat Ratings reports.

A number of other equities research analysts have also issued reports on TTEK. Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Finally, KeyCorp lowered their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.52.

Tetra Tech Stock Down 1.3 %

Tetra Tech stock opened at $34.09 on Thursday. The company’s 50-day moving average price is $40.32 and its two-hundred day moving average price is $44.07. The company has a current ratio of 1.29, a quick ratio of 1.25 and a debt-to-equity ratio of 0.53. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 35.81 and a beta of 0.89. Tetra Tech has a 52 week low of $31.09 and a 52 week high of $51.20.

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%. On average, analysts expect that Tetra Tech will post 1.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently made changes to their positions in TTEK. Allworth Financial LP raised its holdings in Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC raised its position 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 purchasing an additional 444 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after buying an additional 587 shares during the period. Canton Hathaway LLC grew its stake in Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares during the last quarter. Finally, USA Financial Formulas lifted its position in Tetra Tech by 332.3% during the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares during 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.