Tetra Tech, Inc. (TTEK) Receives Average Recommendation of “Buy” from Brokerages
Tetra Tech, Inc. (NASDAQ:TTEK) has been given an average rating of “Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $52.50.
A number of equities analysts have commented on the stock. Boenning Scattergood restated an “outperform” rating on shares of Tetra Tech in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Stifel Nicolaus reiterated a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research note on Thursday, September 7th. Robert W. Baird increased their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Finally, BidaskClub downgraded shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th.
In related news, SVP Roger R. Argus sold 1,138 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $49.63, for a total transaction of $56,478.94. Following the completion of the sale, the senior vice president now owns 6,948 shares of the company’s stock, valued at $344,829.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ronald J. Chu sold 696 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 37,800 shares of the company’s stock, valued at approximately $1,890,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 221,145 shares of company stock worth $10,860,261. Insiders own 3.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Rathbone Brothers plc lifted its position in Tetra Tech by 3.2% during the third quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock valued at $1,555,000 after acquiring an additional 1,050 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Tetra Tech during the third quarter valued at approximately $774,000. Capital Fund Management S.A. purchased a new stake in Tetra Tech during the second quarter valued at approximately $581,000. Chicago Equity Partners LLC purchased a new stake in Tetra Tech during the second quarter valued at approximately $1,003,000. Finally, Koch Industries Inc. purchased a new stake in Tetra Tech during the second quarter valued at approximately $506,000. 84.78% of the stock is owned by institutional investors.
Shares of Tetra Tech (TTEK) traded down $0.85 during mid-day trading on Thursday, reaching $47.05. 265,252 shares of the company’s stock were exchanged, compared to its average volume of 337,844. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.94 and a quick ratio of 1.94. The company has a market cap of $2,671.90, a P/E ratio of 22.51, a P/E/G ratio of 1.53 and a beta of 1.07. Tetra Tech has a twelve month low of $38.85 and a twelve month high of $50.90.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The business had revenue of $533.00 million for the quarter, compared to the consensus estimate of $517.90 million. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. analysts expect that Tetra Tech will post 2.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Tetra Tech’s dividend payout ratio is presently 19.61%.
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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