Tetra Technologies Inc. (TTI) Stock Rating Reaffirmed by RBC Capital Markets
Tetra Technologies Inc. (NYSE:TTI)‘s stock had its “outperform” rating restated by equities researchers at RBC Capital Markets in a research note issued to investors on Tuesday. They presently have a $7.00 price objective on the stock, down from their previous price objective of $8.00. RBC Capital Markets’ price target would suggest a potential upside of 40.00% from the company’s previous close.
A number of other equities analysts have also commented on the company. Royal Bank Of Canada cut their price objective on Tetra Technologies from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday. Credit Suisse Group AG lowered Tetra Technologies from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $5.00 in a research note on Tuesday. Wells Fargo & Co. began coverage on Tetra Technologies in a research note on Tuesday, October 18th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered Tetra Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, October 13th. Finally, Loop Capital began coverage on Tetra Technologies in a research note on Friday, September 30th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $7.86.
Shares of Tetra Technologies (NYSE:TTI) opened at 5.00 on Tuesday. Tetra Technologies has a 12-month low of $4.40 and a 12-month high of $9.44. The stock has a 50 day moving average price of $5.72 and a 200 day moving average price of $5.97. The firm’s market cap is $463.53 million.
Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The company had revenue of $176.55 million for the quarter, compared to analyst estimates of $205.33 million. Tetra Technologies had a negative return on equity of 8.79% and a negative net margin of 35.47%. The firm’s quarterly revenue was down 42.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, equities analysts expect that Tetra Technologies will post ($0.49) earnings per share for the current year.
In related news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction that occurred 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 transaction, the vice president now owns 111,161 shares of the company’s stock, valued at $708,095.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.45% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Societe Generale bought a new position in shares of Tetra Technologies during the second quarter valued at about $103,000. SG Americas Securities LLC boosted its position 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. boosted its position 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 acquired a new position in Tetra Technologies during the second quarter valued at $112,000. Finally, Profund Advisors LLC boosted its position 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. 90.00% of the stock is currently owned by institutional investors.
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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