Tetra Tech (NASDAQ:TTEK) Price Target Raised to $234.00 at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its price target increased by KeyCorp from $231.00 to $234.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

TTEK has been the topic of a number of other reports. Maxim Group upped their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a buy rating in a research note on Thursday, May 16th. Northcoast Research upgraded Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price on the stock in a report on Thursday, May 2nd. Robert W. Baird raised their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the company a neutral rating in a research note on Wednesday, May 15th. Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Tetra Tech from a hold rating to a buy rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has a consensus rating of Moderate Buy and an average target price of $236.60.

Tetra Tech Trading Up 0.8 %

Shares of TTEK stock opened at $217.88 on Thursday. Tetra Tech has a fifty-two week low of $132.29 and a fifty-two week high of $221.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $197.04 and a two-hundred day simple moving average of $178.35. The company has a market cap of $11.66 billion, a P/E ratio of 44.11 and a beta of 0.93.

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

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.53%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, May 17th. Tetra Tech’s dividend payout ratio is presently 23.48%.

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. Norges Bank purchased a new position in Tetra Tech in the fourth quarter worth $96,655,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Tetra Tech in the 4th quarter worth about $82,209,000. International Assets Investment Management LLC grew its position in Tetra Tech by 16,621.9% during the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after buying an additional 219,742 shares during the period. Sarasin & Partners LLP raised its position in Tetra Tech by 18.3% in the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after acquiring an additional 189,049 shares during the period. Finally, Bank of Nova Scotia purchased a new position in Tetra Tech in the third quarter valued at about $23,934,000. 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.