Tetra Tech Inc. (NASDAQ:TTEK) Receives $34.67 Consensus PT from Analysts
Shares of Tetra Tech Inc. (NASDAQ:TTEK) have earned an average rating of “Hold” from the eight research firms that are currently covering the firm. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $34.67.
TTEK has been the topic of a number of recent research reports. FBR & Co boosted their target price on Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Canaccord Genuity restated a “buy” rating and issued a $37.00 target price on shares of Tetra Tech in a research note on Thursday, July 7th. Finally, Zacks Investment Research downgraded Tetra Tech from a “hold” rating to a “sell” rating in a research note on Monday, July 18th.
In related news, Director J Kenneth Thompson sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $32.75, for a total transaction of $262,000.00. Following the completion of the transaction, the director now owns 20,930 shares of the company’s stock, valued at approximately $685,457.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Janis B. Salin sold 16,750 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $32.00, for a total value of $536,000.00. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its position in Tetra Tech by 0.8% in the second quarter. Hsbc Holdings PLC now owns 11,336 shares of the company’s stock valued at $349,000 after buying an additional 94 shares in the last quarter. Arizona State Retirement System boosted its position in Tetra Tech by 0.3% in the second quarter. Arizona State Retirement System now owns 30,123 shares of the company’s stock valued at $926,000 after buying an additional 100 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Tetra Tech by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 51,564 shares of the company’s stock valued at $1,585,000 after buying an additional 150 shares in the last quarter. PineBridge Investments L.P. boosted its position in Tetra Tech by 2.6% in the second quarter. PineBridge Investments L.P. now owns 7,347 shares of the company’s stock valued at $226,000 after buying an additional 183 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in Tetra Tech by 1.1% in the second quarter. Capstone Asset Management Co. now owns 18,143 shares of the company’s stock valued at $558,000 after buying an additional 190 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.
Tetra Tech (NASDAQ:TTEK) opened at 35.44 on Friday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 99.55 and a beta of 1.18. The stock has a 50 day moving average price of $35.05 and a 200 day moving average price of $31.53. Tetra Tech has a 12 month low of $22.85 and a 12 month high of $36.24.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The firm had revenue of $667 million for the quarter, compared to the consensus estimate of $498.79 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Tetra Tech will post $1.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, August 12th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.02%. Tetra Tech’s dividend payout ratio is presently 100.00%.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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