StockNews.com Upgrades Tetra Tech (NASDAQ:TTEK) to Buy

Tetra Tech (NASDAQ:TTEK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Other equities research analysts have also issued research reports about the stock. KeyCorp increased their price objective on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday. Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday. Maxim Group lifted their price objective on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Robert W. Baird raised their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.40.

Tetra Tech Price Performance

Tetra Tech stock opened at $207.75 on Friday. Tetra Tech has a 1 year low of $132.29 and a 1 year high of $208.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 1.24. The firm has a 50 day moving average price of $186.65 and a 200 day moving average price of $171.67. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 EPS. Sell-side analysts predict that Tetra Tech will post 6.2 earnings per share for the current year.

Insider Buying and Selling at Tetra Tech

In other news, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the sale, the director now owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Kenneth Thompson sold 3,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the completion of the sale, the director now directly owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Large investors have recently bought and sold shares of the stock. Sarasin & Partners LLP boosted its holdings in shares of Tetra Tech by 2.6% in the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after acquiring an additional 32,053 shares in the last quarter. Invesco Ltd. boosted its stake in Tetra Tech by 6.2% during the 3rd quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock valued at $133,731,000 after purchasing an additional 51,139 shares in the last quarter. Norges Bank acquired a new position in shares of Tetra Tech during the 4th quarter valued at $96,655,000. Vontobel Holding Ltd. raised its stake in shares of Tetra Tech by 2.8% in the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after buying an additional 14,334 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Tetra Tech by 8.8% during the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock valued at $86,088,000 after buying an additional 41,860 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.