Tetra Technologies Inc. (TTI) Stock Rating Upgraded by Scotiabank
Tetra Technologies Inc. (NYSE:TTI) was upgraded by investment analysts at Scotiabank to an “outperform” rating in a research note issued to investors on Wednesday.
Several other equities research analysts have also weighed in on TTI. Zacks Investment Research lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Credit Suisse Group AG set a $8.00 target price on shares of Tetra Technologies and gave the stock a “buy” rating in a report on Tuesday, August 9th. JPMorgan Chase & Co. set a $8.00 target price on shares of Tetra Technologies and gave the stock a “buy” rating in a report on Tuesday, August 9th. Simmons reaffirmed an “overweight” rating and issued a $7.60 target price (up previously from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. Finally, Morgan Stanley started coverage on shares of Tetra Technologies in a report on Wednesday, August 10th. They issued an “overweight” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Tetra Technologies presently has a consensus rating of “Buy” and an average target price of $7.87.
Shares of Tetra Technologies (NYSE:TTI) opened at 5.30 on Wednesday. Tetra Technologies has a 12-month low of $4.40 and a 12-month high of $9.44. The company has a 50 day moving average of $5.68 and a 200-day moving average of $5.90. The company’s market capitalization is $491.23 million.
Tetra Technologies (NYSE:TTI) last posted its earnings results on Monday, November 7th. The company reported ($0.05) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Tetra Technologies had a negative net margin of 35.47% and a negative return on equity of 8.79%. The business had revenue of $176.55 million for the quarter, compared to analyst estimates of $205.33 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was down 42.1% compared to the same quarter last year. On average, equities analysts anticipate that Tetra Technologies will post ($0.49) EPS for the current fiscal year.
In other news, VP Keith L. Schilling sold 24,341 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total value of $155,052.17. Following the transaction, the vice president now owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.45% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in TTI. Vanguard Group Inc. increased its stake 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 worth $53,476,000 after buying an additional 1,205,275 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Tetra Technologies by 13.5% in the third quarter. BlackRock Fund Advisors now owns 6,864,662 shares of the company’s stock worth $41,943,000 after buying an additional 818,153 shares in the last quarter. Point72 Asset Management L.P. increased its stake 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 worth $30,484,000 after buying an additional 4,440,514 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Tetra Technologies by 20.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,278,360 shares of the company’s stock worth $27,253,000 after buying an additional 714,921 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Tetra Technologies by 0.4% in the third quarter. Neuberger Berman Group LLC now owns 3,132,948 shares of the company’s stock worth $19,142,000 after buying an additional 12,196 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.
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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