Tetra Tech (NASDAQ:TTEK) Price Target Raised to $234.00

Tetra Tech (NASDAQ:TTEK) had its price target raised by KeyCorp from $231.00 to $234.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on TTEK. Robert W. Baird lifted their price target on shares of Tetra Tech from $200.00 to $223.00 and gave the company a neutral rating in a research report on Wednesday, May 15th. StockNews.com upgraded shares of Tetra Tech from a hold rating to a buy rating in a research report on Tuesday, May 14th. Maxim Group boosted their price objective on shares of Tetra Tech from $234.00 to $268.00 and gave the company a buy rating in a research report on Thursday, May 16th. Northcoast Research upgraded shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 price objective for the company in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Tetra Tech currently has an average rating of Moderate Buy and a consensus price target of $236.60.

Tetra Tech Trading Up 0.8 %

Shares of NASDAQ:TTEK opened at $217.88 on Thursday. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $221.40. The stock has a market cap of $11.66 billion, a PE ratio of 44.11 and a beta of 0.93. The business has a 50 day moving average of $197.04 and a 200-day moving average of $178.17. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Tetra Tech will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 0.53%. Tetra Tech’s dividend payout ratio is 23.48%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Tetra Tech by 25.8% during the first quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock worth $56,000 after buying an additional 62 shares in the last quarter. AtonRa Partners grew its stake in shares of Tetra Tech by 1.9% in the fourth quarter. AtonRa Partners now owns 3,454 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 65 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Tetra Tech by 2.5% in the fourth quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 74 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Tetra Tech by 3.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 75 shares during the last quarter. Finally, Hunter Associates Investment Management LLC grew its stake in shares of Tetra Tech by 2.0% in the third quarter. Hunter Associates Investment Management LLC now owns 4,320 shares of the industrial products company’s stock worth $654,000 after purchasing an additional 86 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.