Tetra Technologies Inc. (NYSE:TTI) Receives $8.40 Average PT from Brokerages
Shares of Tetra Technologies Inc. (NYSE:TTI) have been given a consensus recommendation of “Buy” by the fifteen analysts that are covering the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.40.
Several research firms recently commented on TTI. Zacks Investment Research raised Tetra Technologies from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Wednesday, August 10th. JPMorgan Chase & Co. set a $8.00 target price on Tetra Technologies and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Credit Suisse Group AG set a $8.00 target price on Tetra Technologies and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Wunderlich lowered their target price on Tetra Technologies from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, June 10th. Finally, Morgan Stanley set a $10.00 target price on Tetra Technologies and gave the stock a “buy” rating in a research note on Wednesday.
Tetra Technologies (NYSE:TTI) opened at 5.97 on Tuesday. Tetra Technologies has a one year low of $4.62 and a one year high of $9.44. The stock has a 50 day moving average price of $6.07 and a 200-day moving average price of $6.15. The firm’s market capitalization is $553.45 million.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.03. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The business earned $175.66 million during the quarter, compared to analysts’ expectations of $188.42 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was down 44.5% on a year-over-year basis. On average, analysts predict that Tetra Technologies will post ($0.48) earnings per share for the current fiscal year.
In other news, VP Keith L. Schilling sold 24,341 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total value of $155,052.17. Following the completion of the sale, the vice president now directly owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.45% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of TTI. Societe Generale bought a new stake in Tetra Technologies during the second quarter valued at approximately $103,000. SG Americas Securities LLC increased its stake in Tetra Technologies by 27.8% in the second quarter. SG Americas Securities LLC now owns 16,182 shares of the company’s stock valued at $103,000 after buying an additional 3,523 shares in the last quarter. Eqis Capital Management Inc. increased its stake in Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock valued at $108,000 after buying an additional 166 shares in the last quarter. Mason Street Advisors LLC bought a new stake in Tetra Technologies during the second quarter valued at approximately $112,000. Finally, Profund Advisors LLC increased its stake in Tetra Technologies by 1.1% in the second quarter. Profund Advisors LLC now owns 18,326 shares of the company’s stock valued at $117,000 after buying an additional 208 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.
Tetra Technologies Company Profile
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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