Maxim Group restated their buy rating on shares of Tetra Tech (NASDAQ:TTEK) in a research note issued to investors on Friday morning. Maxim Group currently has a $87.00 price objective on the industrial products company’s stock.
“In TTEK’s upcoming earnings report on January 30th, post-close, we forecast $0.61 relative to the $0.62 consensus and within the guidance range of $0.60-$0.65.”,” Maxim Group’s analyst wrote.
A number of other research firms have also commented on TTEK. Robert W. Baird lifted their target price on Tetra Tech from $63.00 to $70.00 and gave the stock a hold rating in a report on Thursday, November 8th. BidaskClub raised Tetra Tech from a hold rating to a buy rating in a report on Thursday, November 8th. Zacks Investment Research reaffirmed a hold rating on shares of Tetra Tech in a report on Saturday, November 17th. Finally, Boenning Scattergood reaffirmed a buy rating and issued a $80.00 price objective on shares of Tetra Tech in a report on Thursday, December 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Tetra Tech currently has an average rating of Buy and an average target price of $70.43.
Shares of Tetra Tech stock traded down $0.26 on Friday, reaching $53.26. The company’s stock had a trading volume of 373,564 shares, compared to its average volume of 325,721. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.31 and a beta of 1.07. Tetra Tech has a 52 week low of $44.65 and a 52 week high of $72.56. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.27.
Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, November 7th. The industrial products company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The business had revenue of $563.67 million during the quarter, compared to analyst estimates of $571.33 million. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. On average, equities research analysts forecast that Tetra Tech will post 2.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Friday, November 30th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, November 29th. Tetra Tech’s payout ratio is currently 18.18%.
In related news, Director Kirsten M. Volpi sold 1,200 shares of Tetra Tech stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $66.94, for a total transaction of $80,328.00. Following the transaction, the director now directly owns 8,801 shares in the company, valued at $589,138.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan L. Batrack sold 44,869 shares of Tetra Tech stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $65.11, for a total value of $2,921,420.59. Following the transaction, the chief executive officer now owns 305,800 shares in the company, valued at $19,910,638. The disclosure for this sale can be found here. Insiders sold 77,382 shares of company stock valued at $4,830,265 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. lifted its position in Tetra Tech by 1.8% during the third quarter. American International Group Inc. now owns 43,524 shares of the industrial products company’s stock valued at $2,973,000 after purchasing an additional 789 shares in the last quarter. Smithfield Trust Co. lifted its position in Tetra Tech by 70.1% during the third quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 940 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Tetra Tech by 14.4% in the third quarter. Fisher Asset Management LLC now owns 8,365 shares of the industrial products company’s stock valued at $571,000 after acquiring an additional 1,050 shares in the last quarter. Strs Ohio lifted its position in shares of Tetra Tech by 25.5% in the third quarter. Strs Ohio now owns 5,900 shares of the industrial products company’s stock valued at $402,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Tetra Tech by 303.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,215 shares in the last quarter. Institutional investors own 84.49% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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