Tetra Tech (NASDAQ:TTEK) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Tetra Tech (NASDAQ:TTEK) released its quarterly earnings results on Wednesday. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.29 by $0.13, Briefing.com reports. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $1.17 earnings per share. The firm’s revenue was down 9.5% on a year-over-year basis.

Tetra Tech Trading Down 1.1 %

Shares of TTEK stock opened at $192.49 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. Tetra Tech has a twelve month low of $132.29 and a twelve month high of $196.48. The company’s 50-day moving average price is $185.52 and its 200-day moving average price is $171.09. The stock has a market cap of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.93.

Insiders Place Their Bets

In other news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the sale, the director now owns 14,485 shares in the company, valued at approximately $2,390,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director J Kenneth Thompson sold 8,400 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the sale, the director now owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction dated Friday, February 9th. The shares were 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 directly owns 8,360 shares in the company, valued at approximately $1,475,707.20. The disclosure for this sale can be found here. Insiders have sold 32,123 shares of company stock valued at $5,487,673 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TTEK shares. Maxim Group upped their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada raised their price objective on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, KeyCorp assumed coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Tetra Tech Company Profile

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.