Robert W. Baird Raises Tetra Tech (NASDAQ:TTEK) Price Target to $200.00

Tetra Tech (NASDAQ:TTEK) had its price target raised by equities research analysts at Robert W. Baird from $180.00 to $200.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective points to a potential upside of 3.90% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. KeyCorp assumed coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Maxim Group increased their price target on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their price target on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.00.

Tetra Tech Price Performance

Shares of Tetra Tech stock opened at $192.49 on Thursday. Tetra Tech has a one year low of $132.29 and a one year high of $196.48. The stock’s fifty day moving average is $185.52 and its 200 day moving average is $171.09. The stock has a market cap of $10.30 billion, a P/E ratio of 44.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $1.17 EPS. Tetra Tech’s revenue for the quarter was down 9.5% compared to the same quarter last year. Sell-side analysts anticipate that Tetra Tech will post 6.07 earnings per share for the current year.

Insiders Place Their Bets

In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the sale, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Brian N. Carter sold 5,580 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the completion of the transaction, the senior vice president now owns 8,360 shares in the company, valued at $1,475,707.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,123 shares of company stock worth $5,487,673. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TTEK. Contravisory Investment Management Inc. purchased a new position in shares of Tetra Tech during the fourth quarter valued at about $26,000. Rise Advisors LLC purchased a new position in Tetra Tech in the first quarter worth about $27,000. Jones Financial Companies Lllp purchased a new position in Tetra Tech in the fourth quarter worth about $33,000. Principal Securities Inc. purchased a new position in Tetra Tech in the fourth quarter worth about $36,000. Finally, Millburn Ridgefield Corp purchased a new position in Tetra Tech in the third quarter worth about $37,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.