Tetra Technologies Inc. (TTI) Given a $10.00 Price Target by Morgan Stanley Analysts
Several other research analysts also recently commented on TTI. Zacks Investment Research raised Tetra Technologies from a strong sell rating to a hold rating in a research note on Wednesday, June 15th. JPMorgan Chase & Co. set a $8.00 price objective on Tetra Technologies and gave the company a buy rating in a research note on Tuesday, August 9th. Simmons reaffirmed an overweight rating and issued a $7.60 price objective (up previously from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. Credit Suisse Group AG set a $8.00 price objective on Tetra Technologies and gave the company a buy rating in a research note on Tuesday, August 9th. Finally, Wunderlich upped their price objective on Tetra Technologies from $9.00 to $10.00 and gave the company a buy rating in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Tetra Technologies presently has an average rating of Buy and a consensus target price of $8.26.
Tetra Technologies (NYSE:TTI) traded up 3.72% on Wednesday, reaching $6.13. 418,821 shares of the company traded hands. The firm has a 50 day moving average of $6.07 and a 200-day moving average of $6.15. The stock’s market capitalization is $568.28 million. Tetra Technologies has a one year low of $4.62 and a one year high of $9.44.
Tetra Technologies (NYSE:TTI) last issued its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The firm earned $175.66 million during the quarter, compared to the consensus estimate of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The business’s quarterly revenue was down 44.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. On average, analysts anticipate that Tetra Technologies will post ($0.48) EPS for the current year.
In other news, VP Keith L. Schilling sold 24,341 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the transaction, the vice president now owns 111,161 shares in the company, valued at approximately $708,095.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.45% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. increased its position in shares of Tetra Technologies by 1,287.1% in the second quarter. Point72 Asset Management L.P. now owns 4,785,514 shares of the company’s stock valued at $30,484,000 after buying an additional 4,440,514 shares in the last quarter. Boston Partners increased its position in shares of Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock valued at $18,075,000 after buying an additional 1,222,597 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Tetra Technologies by 16.8% in the second quarter. Vanguard Group Inc. now owns 8,394,848 shares of the company’s stock valued at $53,476,000 after buying an additional 1,205,275 shares in the last quarter. FMR LLC increased its position in shares of Tetra Technologies by 56.9% in the second quarter. FMR LLC now owns 2,701,785 shares of the company’s stock valued at $17,210,000 after buying an additional 980,000 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Tetra Technologies during the second quarter valued at approximately $4,731,000. Institutional investors own 89.92% of the company’s stock.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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