Morgan Stanley Analysts Give Tetra Technologies Inc. (TTI) a $10.00 Price Target
A number of other analysts also recently commented on TTI. Zacks Investment Research raised Tetra Technologies from a strong sell rating to a hold rating in a research report on Wednesday, June 15th. JPMorgan Chase & Co. set a $8.00 price target on Tetra Technologies and gave the company a buy rating in a research report on Tuesday, August 9th. Simmons reissued an overweight rating and set a $7.60 price objective (up from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. Credit Suisse Group AG set a $8.00 price objective on Tetra Technologies and gave the company a buy rating in a report on Tuesday, August 9th. Finally, Wunderlich increased their price objective on Tetra Technologies from $9.00 to $10.00 and gave the company a buy rating in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Tetra Technologies currently has an average rating of Buy and a consensus target price of $8.26.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.03. The company earned $175.66 million during the quarter, compared to the consensus estimate of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. Tetra Technologies’s revenue was down 44.5% on a year-over-year basis. During the same period last year, the business posted $0.16 earnings per share.
In related news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the sale, the vice president now owns 111,161 shares of the company’s stock, valued at $708,095.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.45% of the company’s stock.
A number of large investors have recently bought and sold shares of TTI. Societe Generale acquired a new stake in Tetra Technologies during the second quarter valued at about $103,000. SG Americas Securities LLC raised its stake in Tetra Technologies by 27.8% in the second quarter. SG Americas Securities LLC now owns 16,182 shares of the company’s stock valued at $103,000 after buying an additional 3,523 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock valued at $108,000 after buying an additional 166 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Tetra Technologies during the second quarter valued at about $112,000. Finally, Profund Advisors LLC raised its stake in Tetra Technologies by 1.1% in the second quarter. Profund Advisors LLC now owns 18,326 shares of the company’s stock valued at $117,000 after buying an additional 208 shares in the last quarter. 89.92% of the stock is owned by institutional investors.
Tetra Technologies Company Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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