Tetra Tech, Inc. (NASDAQ:TTEK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEKGet Free Report) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $236.60.

A number of analysts have issued reports on the company. Robert W. Baird lifted their price objective on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Maxim Group upped their price target on shares of Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. KeyCorp upped their target price on shares of Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada increased their price target on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a report on Friday, May 3rd.

View Our Latest Research Report on TTEK

Tetra Tech Stock Performance

TTEK opened at $207.69 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.04 and a beta of 0.98. The company has a fifty day moving average of $204.79 and a 200 day moving average of $184.22. Tetra Tech has a fifty-two week low of $143.35 and a fifty-two week high of $221.40.

Tetra Tech (NASDAQ:TTEKGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. As a group, sell-side analysts forecast that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Activity at Tetra Tech

In related news, EVP Leslie L. Shoemaker sold 11,161 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $211.83, for a total value of $2,364,234.63. Following the sale, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at approximately $15,863,313.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds have recently bought and sold shares of TTEK. Vanguard Group Inc. boosted its stake in shares of Tetra Tech by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after purchasing an additional 14,701 shares during the period. Sarasin & Partners LLP boosted its position in Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after buying an additional 32,053 shares during the period. Invesco Ltd. boosted its position in Tetra Tech by 6.2% in the 3rd quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock valued at $133,731,000 after buying an additional 51,139 shares during the period. Norges Bank purchased a new position in shares of Tetra Tech during the fourth quarter worth approximately $96,655,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Tetra Tech by 2.8% during the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock valued at $89,072,000 after acquiring an additional 14,334 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.

About Tetra Tech

(Get Free Report

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.

Read More

Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.