Tetra Tech (NASDAQ:TTEK) Stock Falls 7.7% – Time to Sell?

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price was down 7.7% during trading on Wednesday. The stock traded as low as $38.57 and last traded at $37.5290. Approximately 2,896,088 shares were traded during trading, an increase of 0% from the average daily volume of 2,895,236 shares. The stock had previously closed at $40.65.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Robert W. Baird set a $37.00 price target on shares of Tetra Tech in a report on Thursday, July 30th. KeyCorp reissued an “overweight” rating and issued a $41.00 price target (down from $43.00) on shares of Tetra Tech in a report on Thursday, October 15th. Weiss Ratings upgraded shares of Tetra Tech from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. Finally, Royal Bank Of Canada decreased their price target on shares of Tetra Tech from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Tetra Tech Trading Down 7.6%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $9.61 billion, a P/E ratio of 22.76 and a beta of 0.86. The stock has a 50-day moving average price of $35.90 and a 200-day moving average price of $33.25.

Institutional Trading of Tetra Tech

A number of hedge funds have recently made changes to their positions in TTEK. Pictet Asset Management Holding SA raised its position in Tetra Tech by 9.1% during the third quarter. Pictet Asset Management Holding SA now owns 5,192,763 shares of the industrial products company’s stock valued at $171,115,000 after purchasing an additional 433,473 shares in the last quarter. Amundi boosted its holdings in shares of Tetra Tech by 7.4% in the 2nd quarter. Amundi now owns 5,098,519 shares of the industrial products company’s stock worth $147,264,000 after purchasing an additional 349,272 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tetra Tech by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,789,240 shares of the industrial products company’s stock valued at $114,128,000 after purchasing an additional 112,560 shares during the last quarter. First Trust Advisors LP increased its position in shares of Tetra Tech by 47.6% during the 1st quarter. First Trust Advisors LP now owns 2,445,482 shares of the industrial products company’s stock valued at $73,658,000 after purchasing an additional 788,491 shares during the last quarter. Finally, Energy Income Partners LLC bought a new position in shares of Tetra Tech during the 2nd quarter valued at about $68,512,000. 93.89% of the stock is owned by institutional investors.

About Tetra Tech

Tetra Tech, Inc. is a consulting and engineering services company founded in 1966. It works with government and commercial clients on projects involving water, the environment, infrastructure, energy, and resource management. The company provides services across the project lifecycle, including planning, consulting, engineering, design, and program and construction management. Its work includes water supply and wastewater systems, environmental assessment and remediation, infrastructure development, and climate resilience.