Tetra Tech, Inc. (NASDAQ:TTEK) Director Sells $368,636.68 in Stock
Tetra Tech, Inc. (NASDAQ:TTEK) Director J Christopher Lewis sold 4,489 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $82.12, for a total transaction of $368,636.68. Following the completion of the transaction, the director now owns 51,519 shares of the company’s stock, valued at $4,230,740.28. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Tetra Tech stock traded up $0.99 during midday trading on Friday, hitting $83.70. 260,864 shares of the company traded hands, compared to its average volume of 414,832. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.73 and a current ratio of 1.73. The firm’s fifty day moving average price is $79.97 and its 200-day moving average price is $70.96. Tetra Tech, Inc. has a 12 month low of $48.52 and a 12 month high of $86.56.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.09. The company had revenue of $623.20 million for the quarter, compared to analyst estimates of $605.42 million. Tetra Tech had a net margin of 5.85% and a return on equity of 17.36%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. Equities research analysts forecast that Tetra Tech, Inc. will post 3.13 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of TTEK. Nuveen Asset Management LLC grew its holdings in Tetra Tech by 3,925.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 673,534 shares of the industrial products company’s stock worth $52,906,000 after acquiring an additional 656,802 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Tetra Tech by 161.5% in the 2nd quarter. Wells Fargo & Company MN now owns 518,983 shares of the industrial products company’s stock valued at $40,767,000 after purchasing an additional 320,512 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Tetra Tech by 3.0% in the 1st quarter. BlackRock Inc. now owns 8,816,698 shares of the industrial products company’s stock valued at $525,387,000 after purchasing an additional 259,378 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Tetra Tech by 28.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 816,078 shares of the industrial products company’s stock valued at $64,103,000 after purchasing an additional 182,242 shares during the last quarter. Finally, Sandler Capital Management bought a new stake in shares of Tetra Tech in the 2nd quarter valued at $13,233,000. 86.40% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on TTEK. BidaskClub raised shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. ValuEngine raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, June 6th. Roth Capital lifted their price target on shares of Tetra Tech from $75.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Maxim Group set a $92.00 price target on shares of Tetra Tech and gave the company a “buy” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.40.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG 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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