Royal Bank Of Canada Trims Tetra Technologies Inc. (TTI) Target Price to $7.00
Tetra Technologies Inc. (NYSE:TTI) had its target price reduced by Royal Bank Of Canada from $8.00 to $7.00 in a report issued on Tuesday morning. Royal Bank Of Canada currently has an outperform rating on the stock.
TTI has been the subject of a number of other reports. 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. Zacks Investment Research upgraded Tetra Technologies from a hold rating to a buy rating and set a $7.00 price objective for the company in a research note on Wednesday, August 10th. 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. Morgan Stanley began coverage on Tetra Technologies in a research note on Wednesday, August 10th. They set an overweight rating and a $10.00 price objective for the company. Finally, Simmons reiterated an overweight rating and set a $7.60 price objective (up from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Tetra Technologies currently has an average rating of Buy and a consensus price target of $7.86.
Tetra Technologies (NYSE:TTI) opened at 5.18 on Tuesday. Tetra Technologies has a 1-year low of $4.40 and a 1-year high of $9.44. The firm’s 50 day moving average is $5.71 and its 200 day moving average is $5.96. The stock’s market capitalization is $480.21 million.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Monday, November 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The company earned $176.55 million during the quarter, compared to the consensus estimate 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 revenue was down 42.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. On average, equities research analysts anticipate that Tetra Technologies will post ($0.49) earnings per share for the current year.
In other Tetra Technologies 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 value of $155,052.17. Following the sale, the vice president now owns 111,161 shares in the company, valued at $708,095.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.45% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock worth $34,572,000 after buying an additional 16,658 shares during the last quarter. Prudential Financial Inc. increased its position in Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock worth $2,097,000 after buying an additional 97,200 shares during the last quarter. HBK Investments L P increased its position in Tetra Technologies by 1.2% in the first quarter. HBK Investments L P now owns 377,436 shares of the company’s stock worth $2,397,000 after buying an additional 4,636 shares during the last quarter. Boston Partners increased its position in Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock worth $18,075,000 after buying an additional 1,222,597 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Tetra Technologies by 66.3% in the first quarter. Goldman Sachs Group Inc. now owns 172,582 shares of the company’s stock worth $1,096,000 after buying an additional 68,790 shares during the last quarter. Institutional investors and hedge funds own 90.00% 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.
Receive News & Stock Ratings for Tetra Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Technologies Inc. and related stocks with our FREE daily email newsletter.