Maxim Group Increases Tetra Tech (NASDAQ:TTEK) Price Target to $230.00

Tetra Tech (NASDAQ:TTEK) had its price target lifted by investment analysts at Maxim Group from $220.00 to $230.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Maxim Group’s price target would suggest a potential upside of 17.82% from the stock’s previous close.

TTEK has been the topic of several other reports. KeyCorp started coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and an average target price of $201.00.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $2.02 on Tuesday, hitting $195.22. The company had a trading volume of 117,242 shares, compared to its average volume of 259,614. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $196.30. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 45.24 and a beta of 0.96. The stock has a 50 day moving average price of $184.83 and a 200 day moving average price of $170.68. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $974.00 million. During the same period in the previous year, the company earned $1.34 earnings per share. Analysts expect that Tetra Tech will post 6.07 EPS for the current year.

Insider Activity

In related news, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the sale, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the sale, the chief financial officer now owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the transaction, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp boosted its holdings in shares of Tetra Tech by 10.7% during the 3rd quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock worth $4,077,000 after buying an additional 2,593 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Tetra Tech by 2.5% during the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after buying an additional 8,394 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Tetra Tech by 95.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock worth $2,733,000 after buying an additional 8,791 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Tetra Tech during the 4th quarter worth approximately $82,209,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Tetra Tech during the 4th quarter worth approximately $873,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.