Tetra Tech Inc. (TTEK) Hits New 1-Year High at $34.37
Tetra Tech Inc. (NASDAQ:TTEK) hit a new 52-week high on Monday . The company traded as high as $34.37 and last traded at $34.27, with a volume of 127,398 shares changing hands. The stock had previously closed at $34.00.
A number of brokerages have weighed in on TTEK. Canaccord Genuity reaffirmed a “buy” rating and issued a $37.00 target price on shares of Tetra Tech in a report on Friday, July 29th. FBR & Co raised their target price on Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Zacks Investment Research raised Tetra Tech from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Oppenheimer Holdings Inc. downgraded Tetra Tech to a “hold” rating in a report on Thursday, April 28th. Finally, Wedbush downgraded Tetra Tech from an “outperform” rating to a “neutral” rating and set a $31.00 target price on the stock. in a report on Wednesday, April 20th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Tetra Tech presently has a consensus rating of “Hold” and an average price target of $32.60.
The stock has a market capitalization of $1.96 billion and a P/E ratio of 95.67. The company’s 50-day moving average price is $32.24 and its 200 day moving average price is $29.79.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 27th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $667 million for the quarter, compared to the consensus estimate of $498.79 million. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. On average, equities analysts predict that Tetra Tech Inc. will post $1.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Friday, August 12th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%.
In other news, Director J Kenneth Thompson sold 8,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $32.75, for a total transaction of $262,000.00. Following the completion of the transaction, the director now directly owns 20,930 shares in the company, valued at approximately $685,457.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Craig L. Christensen sold 16,750 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $30.25, for a total transaction of $506,687.50. Following the transaction, the senior vice president now owns 29,035 shares of the company’s stock, valued at $878,308.75. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. KBC Group NV raised its position in Tetra Tech by 1.6% in the fourth quarter. KBC Group NV now owns 213,645 shares of the company’s stock worth $5,559,000 after buying an additional 3,283 shares during the period. Bank of Montreal Can raised its position in Tetra Tech by 9.7% in the fourth quarter. Bank of Montreal Can now owns 51,894 shares of the company’s stock worth $1,351,000 after buying an additional 4,609 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Tetra Tech by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,565 shares of the company’s stock worth $91,398,000 after buying an additional 371,884 shares during the period.
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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