Tetra Tech (TTEK) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Tetra Tech (NASDAQ:TTEK) from a strong-buy rating to a buy rating in a report released on Saturday morning.
Several other brokerages have also recently weighed in on TTEK. Zacks Investment Research cut shares of Tetra Tech from a hold rating to a sell rating in a research report on Friday, November 10th. Robert W. Baird raised their price target on shares of Tetra Tech from $47.00 to $52.00 and gave the company a neutral rating in a research report on Friday, November 10th. Boenning Scattergood reaffirmed a buy rating and issued a $54.00 price target on shares of Tetra Tech in a research report on Thursday, November 9th. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $47.00 price target on shares of Tetra Tech in a research report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $52.29.
Tetra Tech (TTEK) opened at $47.95 on Friday. Tetra Tech has a 1 year low of $38.85 and a 1 year high of $50.90. The firm has a market cap of $2,694.19, a PE ratio of 22.70, a P/E/G ratio of 1.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.94 and a quick ratio of 1.94.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. Tetra Tech’s dividend payout ratio is currently 19.61%.
In other Tetra Tech news, SVP Janis B. Salin sold 7,420 shares of Tetra Tech stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $50.04, for a total transaction of $371,296.80. Following the transaction, the senior vice president now owns 25,046 shares of the company’s stock, valued at approximately $1,253,301.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ronald J. Chu sold 14,112 shares of Tetra Tech stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total transaction of $705,600.00. Following the transaction, the insider now directly owns 51,216 shares in the company, valued at approximately $2,560,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 221,145 shares of company stock worth $10,860,261. Insiders own 4.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Rathbone Brothers plc lifted its position in shares of Tetra Tech by 3.2% during the 3rd quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock worth $1,555,000 after buying an additional 1,050 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Tetra Tech during the 3rd quarter worth approximately $774,000. Capital Fund Management S.A. bought a new position in shares of Tetra Tech during the 2nd quarter worth approximately $581,000. Chicago Equity Partners LLC bought a new position in shares of Tetra Tech during the 2nd quarter worth approximately $1,003,000. Finally, Koch Industries Inc. bought a new position in shares of Tetra Tech during the 2nd quarter worth approximately $506,000. 84.78% of the stock is currently owned by hedge funds and other institutional investors.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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