Tetra Tech Inc. (TTEK) Sets New 1-Year High at $36.19
Tetra Tech Inc. (NASDAQ:TTEK)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $36.19 and last traded at $36.05, with a volume of 240,500 shares changing hands. The stock had previously closed at $35.52.
A number of equities analysts recently issued reports on TTEK shares. FBR & Co boosted their price objective on Tetra Tech from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Friday, July 29th. Canaccord Genuity restated a “buy” rating and set a $37.00 price objective on shares of Tetra Tech in a report on Thursday, July 7th. Finally, Zacks Investment Research cut Tetra Tech from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.60.
The stock has a market capitalization of $2.07 billion and a price-to-earnings ratio of 101.26. The firm has a 50 day moving average of $33.76 and a 200 day moving average of $30.55.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The company earned $667 million during the quarter, compared to analyst estimates of $498.79 million. Tetra Tech’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $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 business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, August 12th were issued a $0.09 dividend. The ex-dividend date was Wednesday, August 10th. This represents a $0.36 annualized dividend and a dividend yield of 1.00%.
In related news, CFO Steven M. Burdick sold 16,750 shares of the stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $31.23, for a total value of $523,102.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard H. Truly sold 8,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $30.99, for a total value of $247,920.00. Following the completion of the sale, the director now directly owns 19,855 shares of the company’s stock, valued at approximately $615,306.45. The disclosure for this sale can be found here.
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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