Tetra Tech (NASDAQ:TTEK) Raised to Buy at Northcoast Research

Tetra Tech (NASDAQ:TTEK) was upgraded by equities research analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat reports. The firm currently has a $225.00 price objective on the industrial products company’s stock. Northcoast Research’s price objective would indicate a potential upside of 8.30% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. KeyCorp started coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Robert W. Baird upped their price target on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada increased their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Maxim Group boosted their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.40.

Tetra Tech Trading Up 1.7 %

Shares of NASDAQ TTEK traded up $3.49 during mid-day trading on Thursday, hitting $207.75. The company’s stock had a trading volume of 402,949 shares, compared to its average volume of 308,899. Tetra Tech has a one year low of $132.29 and a one year high of $208.76. The company’s fifty day simple moving average is $186.65 and its 200-day simple moving average is $171.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction that occurred on 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 owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares in the company, valued at approximately $5,250,776.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the sale, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. In the last three months, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Large investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Tetra Tech in the first quarter valued at approximately $27,000. Contravisory Investment Management Inc. bought a new position in Tetra Tech in the fourth quarter valued at $26,000. Jones Financial Companies Lllp acquired a new stake in Tetra Tech in the 4th quarter valued at $33,000. Principal Securities Inc. bought a new stake in Tetra Tech during the 4th quarter worth about $36,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of Tetra Tech during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

About Tetra Tech

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.