Tetra Tech Inc. (TTEK) Hits New 52-Week High at $35.00
Tetra Tech Inc. (NASDAQ:TTEK) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.00 and last traded at $34.95, with a volume of 190,656 shares changing hands. The stock had previously closed at $34.70.
A number of research analysts have issued reports on TTEK shares. FBR & Co boosted their target price on shares of Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Friday, July 29th. Oppenheimer Holdings Inc. lowered shares of Tetra Tech to a “hold” rating in a research note on Thursday, April 28th. Canaccord Genuity reissued a “buy” rating and set a $37.00 target price on shares of Tetra Tech in a research note on Thursday, July 7th. Finally, Zacks Investment Research lowered shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $32.60.
The company has a market capitalization of $2.01 billion and a P/E ratio of 98.40. The firm has a 50 day moving average price of $32.75 and a 200 day moving average price of $30.03.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data 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 earned $667 million during the quarter, compared to analyst estimates of $498.79 million. During the same quarter in the prior year, the company posted $0.43 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Tetra Tech Inc. will post $1.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Friday, August 12th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 10th.
In other news, CFO Steven M. Burdick sold 16,750 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $31.23, for a total value of $523,102.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan L. Batrack sold 50,000 shares of the stock in a transaction on Friday, June 10th. The shares were sold at an average price of $30.88, for a total transaction of $1,544,000.00. Following the completion of the transaction, the chief executive officer now owns 245,390 shares of the company’s stock, valued at approximately $7,577,643.20. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Tetra Tech stock. KBC Group NV raised its position in shares of Tetra Tech Inc. (NASDAQ:TTEK) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 213,645 shares of the company’s stock after buying an additional 3,283 shares during the period. KBC Group NV owned approximately 0.36% of Tetra Tech worth $5,559,000 as of its most recent filing with the SEC.
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.