Tetra Tech Inc. (TTEK) Sees Strong Trading Volume
Shares of Tetra Tech Inc. (NASDAQ:TTEK) saw strong trading volume on Monday . 605,354 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 345,186 shares.The stock last traded at $34.70 and had previously closed at $34.70.
Several research analysts have recently weighed in on the company. Canaccord Genuity reissued a “hold” rating and issued a $30.00 price objective on shares of Tetra Tech in a research report on Friday, April 29th. FBR & Co lowered Tetra Tech from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Friday, April 29th. Zacks Investment Research lowered Tetra Tech from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Finally, Oppenheimer Holdings Inc. lowered Tetra Tech to a “hold” rating in a research report on Thursday, April 28th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $32.60.
The company has a 50 day moving average price of $32.75 and a 200 day moving average price of $30.03. The company has a market capitalization of $1.99 billion and a PE ratio of 97.47.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. During the same period in the previous year, the business earned $0.43 earnings per share. The company had revenue of $667 million for the quarter, compared to analysts’ expectations of $498.79 million. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Tetra Tech Inc. will post $1.88 earnings per share for the current fiscal year.
The business also recently disclosed 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. This represents a $0.36 annualized dividend and a yield of 1.04%. The ex-dividend date is Wednesday, August 10th.
In other news, Director Richard H. Truly sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $30.99, for a total value of $247,920.00. Following the transaction, the director now directly owns 19,855 shares of the company’s stock, valued at $615,306.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Craig L. Christensen sold 16,750 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $30.25, for a total transaction of $506,687.50. Following the completion of the transaction, the senior vice president now directly owns 29,035 shares in the company, valued at $878,308.75. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Tetra Tech stock. Bank of Montreal Can raised its stake in Tetra Tech Inc. (NASDAQ:TTEK) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,894 shares of the company’s stock after buying an additional 4,609 shares during the period. Bank of Montreal Can owned 0.09% of Tetra Tech worth $1,351,000 at the end of the most recent reporting 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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