Tetra Tech, Inc. (NASDAQ:TTEK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $45.72.

TTEK has been the topic of a number of research analyst reports. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a report on Friday, January 31st. KeyCorp reduced their price target on shares of Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $29.85 on Thursday. The company has a market cap of $8.00 billion, a P/E ratio of 31.36 and a beta of 0.89. The firm has a fifty day moving average price of $29.80 and a 200 day moving average price of $38.55. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech has a 12 month low of $27.27 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Sell-side analysts predict that Tetra Tech will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s payout ratio is currently 24.21%.

Insider Buying and Selling at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TTEK. Walleye Capital LLC grew its position in Tetra Tech by 2,141.2% in the 3rd quarter. Walleye Capital LLC now owns 6,096 shares of the industrial products company’s stock valued at $287,000 after buying an additional 5,824 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Tetra Tech by 327.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 20,515 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 15,715 shares during the period. Stifel Financial Corp boosted its holdings in shares of Tetra Tech by 465.0% in the third quarter. Stifel Financial Corp now owns 149,265 shares of the industrial products company’s stock valued at $7,039,000 after acquiring an additional 122,846 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Tetra Tech by 365.5% during the third quarter. Wellington Management Group LLP now owns 1,077,828 shares of the industrial products company’s stock worth $50,830,000 after acquiring an additional 846,284 shares during the period. Finally, National Bank of Canada FI raised its holdings in Tetra Tech by 391.2% during the third quarter. National Bank of Canada FI now owns 217,313 shares of the industrial products company’s stock worth $10,248,000 after purchasing an additional 173,071 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.