Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) Price Target at $41.00

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $41.00.

Several equities research analysts have recently weighed in on the company. National Bank Financial assumed coverage on Tetra Tech in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $41.00 price objective for the company. KeyCorp increased their price objective on Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Tetra Tech in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $47.00 price objective on Tetra Tech and gave the company an “outperform” rating in a research report on Monday, September 29th.

Tetra Tech Stock Up 1.0%

Shares of Tetra Tech stock opened at $32.18 on Friday. Tetra Tech has a 12-month low of $27.27 and a 12-month high of $51.20. The stock has a market capitalization of $8.46 billion, a P/E ratio of 40.23 and a beta of 0.94. The stock has a 50 day moving average price of $34.67 and a two-hundred day moving average price of $34.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned $1.59 earnings per share. Tetra Tech’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts expect that Tetra Tech will post 1.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Gary Birkenbeuel sold 2,390 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the transaction, the director directly owned 37,725 shares of the company’s stock, valued at $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TTEK. Brighton Jones LLC bought a new position in Tetra Tech in the fourth quarter worth $225,000. Cambridge Investment Research Advisors Inc. lifted its position in Tetra Tech by 39.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company’s stock worth $541,000 after purchasing an additional 5,275 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Tetra Tech by 0.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 582,409 shares of the industrial products company’s stock worth $17,035,000 after purchasing an additional 2,125 shares during the period. Perpetual Ltd lifted its position in Tetra Tech by 38.1% in the first quarter. Perpetual Ltd now owns 296,938 shares of the industrial products company’s stock worth $8,685,000 after purchasing an additional 81,896 shares during the period. Finally, Artemis Investment Management LLP bought a new position in Tetra Tech in the first quarter worth $3,063,000. 93.89% of the stock is owned by 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.