Tetra Tech, Inc. (TTEK) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $52.50.
Several equities research analysts have weighed in on TTEK shares. BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Boenning Scattergood restated a “buy” rating and set a $54.00 target price on shares of Tetra Tech in a research note on Thursday, November 9th. Zacks Investment Research upgraded Tetra Tech from a “sell” rating to a “hold” rating in a research note on Friday, October 6th. ValuEngine cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Finally, Robert W. Baird upped their target price on Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th.
Shares of Tetra Tech (NASDAQ:TTEK) traded down $0.05 during mid-day trading on Monday, hitting $48.50. The company had a trading volume of 191,730 shares, compared to its average volume of 227,800. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $2,705.33, a PE ratio of 23.77, a P/E/G ratio of 1.55 and a beta of 1.08. Tetra Tech has a fifty-two week low of $38.85 and a fifty-two week high of $50.90.
Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, November 8th. The industrial products company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Tetra Tech had a return on equity of 13.60% and a net margin of 4.28%. The firm had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $517.90 million. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. equities research analysts predict that Tetra Tech will post 2.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Wednesday, November 29th. Tetra Tech’s payout ratio is 19.61%.
In other news, insider Ronald J. Chu sold 14,112 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total value of $705,600.00. Following the completion of the transaction, the insider now directly owns 51,216 shares in the company, valued at approximately $2,560,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan L. Batrack sold 10,874 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $48.34, for a total value of $525,649.16. Following the completion of the transaction, the chief executive officer now owns 286,551 shares of the company’s stock, valued at $13,851,875.34. The disclosure for this sale can be found here. Insiders sold a total of 232,019 shares of company stock valued at $11,385,910 over the last quarter. 4.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its stake in shares of Tetra Tech by 2.6% in the 2nd quarter. Amalgamated Bank now owns 7,989 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 202 shares during the last quarter. Suntrust Banks Inc. increased its holdings in Tetra Tech by 0.6% in the second quarter. Suntrust Banks Inc. now owns 86,767 shares of the industrial products company’s stock valued at $3,969,000 after purchasing an additional 551 shares during the period. Victory Capital Management Inc. increased its holdings in Tetra Tech by 17.7% in the second quarter. Victory Capital Management Inc. now owns 5,331 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 800 shares during the period. Profund Advisors LLC increased its holdings in Tetra Tech by 8.3% in the second quarter. Profund Advisors LLC now owns 11,321 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 864 shares during the period. Finally, Rathbone Brothers plc increased its holdings in Tetra Tech by 3.2% in the third quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock valued at $1,555,000 after purchasing an additional 1,050 shares during the period. Institutional investors own 84.73% of the company’s stock.
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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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