Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have been given an average rating of “Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $86.00.
TTEK has been the subject of a number of recent analyst reports. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. Maxim Group boosted their price target on shares of Tetra Tech from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. ValuEngine cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Cfra cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.
In related news, SVP Richard A. Lemmon sold 11,510 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $82.74, for a total value of $952,337.40. Following the completion of the sale, the senior vice president now owns 45,667 shares of the company’s stock, valued at $3,778,487.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Christopher Lewis sold 4,489 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $82.12, for a total transaction of $368,636.68. Following the completion of the sale, the director now directly owns 51,519 shares of the company’s stock, valued at approximately $4,230,740.28. The disclosure for this sale can be found here. Insiders have sold 52,571 shares of company stock worth $4,511,839 in the last 90 days. Company insiders own 3.00% of the company’s stock.
A number of large investors have recently bought and sold shares of TTEK. Waratah Capital Advisors Ltd. bought a new stake in shares of Tetra Tech during the 3rd quarter valued at $10,928,000. Metropolitan Life Insurance Co NY grew its stake in shares of Tetra Tech by 76.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 31,063 shares of the industrial products company’s stock worth $2,695,000 after purchasing an additional 13,414 shares during the period. Millennium Management LLC grew its stake in shares of Tetra Tech by 152.2% during the third quarter. Millennium Management LLC now owns 99,378 shares of the industrial products company’s stock worth $8,622,000 after purchasing an additional 59,978 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Tetra Tech by 85.3% in the third quarter. Public Employees Retirement System of Ohio now owns 29,632 shares of the industrial products company’s stock valued at $2,571,000 after purchasing an additional 13,642 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Tetra Tech by 41.7% in the third quarter. Point72 Asset Management L.P. now owns 1,700 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 500 shares during the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tetra Tech stock traded down $0.41 during midday trading on Monday, hitting $86.51. 11,851 shares of the company were exchanged, compared to its average volume of 302,110. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $4.74 billion, a P/E ratio of 27.30, a PEG ratio of 1.63 and a beta of 1.08. Tetra Tech has a 52 week low of $48.52 and a 52 week high of $90.34. The firm has a 50 day simple moving average of $87.55 and a 200-day simple moving average of $81.16.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, November 13th. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $640.18 million for the quarter, compared to analysts’ expectations of $636.89 million. Tetra Tech had a return on equity of 17.92% and a net margin of 5.11%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. Equities research analysts expect that Tetra Tech will post 3.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 29th. Tetra Tech’s dividend payout ratio is currently 18.93%.
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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