Tetra Tech (NASDAQ:TTEK) Reaches New 52-Week High Following Analyst Upgrade

Tetra Tech, Inc. (NASDAQ:TTEK) reached a new 52-week high during mid-day trading on Tuesday after Maxim Group raised their price target on the stock from $220.00 to $230.00. Maxim Group currently has a buy rating on the stock. Tetra Tech traded as high as $196.13 and last traded at $195.89, with a volume of 48578 shares traded. The stock had previously closed at $193.20.

A number of other research firms have also recently issued reports on TTEK. Royal Bank of Canada boosted their price objective on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. KeyCorp assumed coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Activity

In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the transaction, the senior vice president now directly owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock valued at $5,487,673 in the last ninety days. 0.61% of the stock is owned by insiders.

Institutional Trading of Tetra Tech

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Investment Group LLC lifted its holdings in shares of Tetra Tech by 1.3% during the first quarter. Renaissance Investment Group LLC now owns 66,786 shares of the industrial products company’s stock worth $12,336,000 after buying an additional 848 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Tetra Tech by 9.8% during the first quarter. Commonwealth Equity Services LLC now owns 5,836 shares of the industrial products company’s stock worth $1,078,000 after acquiring an additional 522 shares during the period. Principal Financial Group Inc. raised its stake in Tetra Tech by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 201,538 shares of the industrial products company’s stock worth $37,226,000 after purchasing an additional 5,681 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in Tetra Tech by 40.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 21,444 shares of the industrial products company’s stock valued at $3,692,000 after purchasing an additional 6,131 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Tetra Tech during the 1st quarter worth approximately $242,000. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $184.83 and its 200 day moving average price is $170.68. The company has a market capitalization of $10.44 billion, a P/E ratio of 45.24 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping 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 company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $974.00 million. During the same quarter in the previous year, the firm posted $1.34 earnings per share. As a group, sell-side analysts forecast that Tetra Tech, Inc. will post 6.07 EPS for the current year.

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.