Robert W. Baird Raises Tetra Tech, Inc. (TTEK) Price Target to $52.00
Tetra Tech, Inc. (NASDAQ:TTEK) had its price objective increased by Robert W. Baird from $47.00 to $52.00 in a research note published on Friday morning. Robert W. Baird currently has a neutral rating on the industrial products company’s stock.
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Tetra Tech from a buy rating to a hold rating in a research report on Saturday, August 5th. Boenning Scattergood restated an outperform rating on shares of Tetra Tech in a research report on Tuesday, September 5th. Roth Capital set a $52.00 target price on shares of Tetra Tech and gave the stock a buy rating in a research report on Wednesday, August 2nd. Stifel Nicolaus restated a hold rating and set a $47.00 target price on shares of Tetra Tech in a research report on Thursday, September 7th. Finally, Canaccord Genuity restated a buy rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Tetra Tech currently has a consensus rating of Hold and an average price target of $52.29.
Shares of Tetra Tech (TTEK) traded up $0.95 on Friday, hitting $48.50. 489,600 shares of the stock were exchanged, compared to its average volume of 347,902. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.94. Tetra Tech has a fifty-two week low of $38.45 and a fifty-two week high of $50.15. The stock has a market cap of $2,740.00, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.08.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The business had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $517.90 million. During the same period last year, the company posted $0.59 EPS. The company’s revenue was up .4% on a year-over-year basis. equities analysts expect that Tetra Tech will post 2.31 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.82%. Tetra Tech’s dividend payout ratio (DPR) is presently 19.61%.
In other Tetra Tech news, insider Ronald J. Chu sold 14,112 shares of Tetra Tech stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $705,600.00. Following the transaction, the insider now owns 51,216 shares in the company, valued at approximately $2,560,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ronald J. Chu sold 696 shares of Tetra Tech stock in a transaction on Friday, October 27th. The shares were sold at an average price of $50.00, for a total transaction of $34,800.00. Following the completion of the transaction, the insider now owns 37,800 shares in the company, valued at approximately $1,890,000. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of TTEK. Koch Industries Inc. purchased a new position in shares of Tetra Tech in the 2nd quarter valued at $506,000. Vanguard Group Inc. raised its stake in shares of Tetra Tech by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock valued at $212,946,000 after acquiring an additional 302,821 shares during the period. Premier Asset Management LLC purchased a new position in shares of Tetra Tech in the 2nd quarter valued at $7,249,000. PDT Partners LLC purchased a new position in shares of Tetra Tech in the 2nd quarter valued at $6,519,000. Finally, Janus Henderson Group PLC raised its stake in shares of Tetra Tech by 270.8% in the 2nd quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock valued at $8,833,000 after acquiring an additional 141,066 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.
About Tetra Tech
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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