Tetra Tech (TTEK) Downgraded by BidaskClub
BidaskClub lowered shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research report report published on Saturday morning.
TTEK has been the subject of several other reports. Maxim Group began coverage on Tetra Tech in a research report on Tuesday, October 23rd. They issued a buy rating and a $87.00 price objective for the company. Zacks Investment Research upgraded Tetra Tech from a sell rating to a buy rating and set a $74.00 price objective for the company in a research report on Monday, August 6th. Canaccord Genuity reiterated a buy rating and issued a $73.00 price objective (up from $60.00) on shares of Tetra Tech in a research report on Thursday, August 2nd. Robert W. Baird boosted their price objective on Tetra Tech from $63.00 to $70.00 and gave the company a hold rating in a research report on Thursday, November 8th. Finally, Roth Capital boosted their price objective on Tetra Tech from $59.00 to $73.00 and gave the company a buy rating in a research report on Monday, August 6th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $70.71.
Shares of TTEK opened at $65.50 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.71 and a quick ratio of 2.01. Tetra Tech has a 52-week low of $44.65 and a 52-week high of $72.56. The company has a market capitalization of $3.62 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, November 29th. Tetra Tech’s payout ratio is 18.18%.
In other Tetra Tech news, CEO Dan L. Batrack sold 44,869 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $65.11, for a total value of $2,921,420.59. Following the sale, the chief executive officer now owns 305,800 shares in the company, valued at approximately $19,910,638. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirsten M. Volpi sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total value of $80,328.00. Following the completion of the sale, the director now owns 8,801 shares in the company, valued at approximately $589,138.94. The disclosure for this sale can be found here. Insiders sold a total of 52,819 shares of company stock worth $3,447,114 in the last 90 days. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its stake in shares of Tetra Tech by 303.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,215 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tetra Tech by 4,747.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 1,614 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Tetra Tech by 80.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 2,000 shares in the last quarter. Smithfield Trust Co. raised its stake in shares of Tetra Tech by 70.1% during the 3rd quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 940 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Tetra Tech during the 2nd quarter worth approximately $205,000. Institutional investors own 83.89% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.
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