Tetra Tech (TTEK) Cut to Buy at BidaskClub
BidaskClub lowered shares of Tetra Tech (NASDAQ:TTEK) from a strong-buy rating to a buy rating in a research report report published on Saturday.
Several other research analysts have also weighed in on the company. Canaccord Genuity reissued a buy rating and issued a $73.00 price objective (up from $60.00) on shares of Tetra Tech in a research report on Thursday, August 2nd. Zacks Investment Research lowered Tetra Tech from a hold rating to a sell rating in a research report on Monday, July 16th. ValuEngine lowered Tetra Tech from a buy rating to a hold rating in a research report on Wednesday, May 2nd. Finally, Roth Capital lifted their price objective on Tetra Tech from $59.00 to $73.00 and gave the stock a buy rating in a research report on Monday, August 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $65.00.
TTEK stock opened at $68.90 on Friday. Tetra Tech has a 1-year low of $40.70 and a 1-year high of $71.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market capitalization of $3.86 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.88 and a beta of 0.99.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Thursday, August 16th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, August 15th. Tetra Tech’s payout ratio is 22.54%.
In related news, SVP Jan K. Auman sold 1,979 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $68.70, for a total value of $135,957.30. Following the completion of the sale, the senior vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $620,498.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in TTEK. Mount Yale Investment Advisors LLC acquired a new position in Tetra Tech during the 1st quarter valued at about $101,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Tetra Tech by 80.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 2,000 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Tetra Tech during the 1st quarter valued at about $201,000. Tocqueville Asset Management L.P. acquired a new position in Tetra Tech during the 2nd quarter valued at about $205,000. Finally, Laurel Wealth Advisors Inc. acquired a new position in Tetra Tech during the 1st quarter valued at about $220,000. Institutional investors and hedge funds own 85.62% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.
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