Tetra Tech (NASDAQ:TTEK) Given New $230.00 Price Target at Maxim Group

Tetra Tech (NASDAQ:TTEK) had its price objective boosted by Maxim Group from $220.00 to $230.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other brokerages have also issued reports on TTEK. Royal Bank of Canada raised their target price on Tetra Tech from $192.00 to $203.00 and gave the company an outperform rating in a research report on Friday, February 2nd. KeyCorp initiated coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an overweight rating and a $191.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $201.00.

Tetra Tech Trading Up 0.8 %

NASDAQ TTEK opened at $194.72 on Tuesday. Tetra Tech has a 12 month low of $132.29 and a 12 month high of $196.48. The firm has a market capitalization of $10.42 billion, a P/E ratio of 45.07 and a beta of 0.96. The business has a fifty day simple moving average of $185.18 and a 200 day simple moving average of $170.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $974.00 million. During the same period last year, the firm posted $1.34 EPS. On average, analysts predict that Tetra Tech will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the sale, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares in the company, valued at approximately $1,946,981.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $96,655,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $82,209,000. International Assets Investment Management LLC boosted its position in shares of Tetra Tech by 16,621.9% during the 4th quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after acquiring an additional 219,742 shares during the last quarter. Sarasin & Partners LLP boosted its position in shares of Tetra Tech by 18.3% during the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after acquiring an additional 189,049 shares during the last quarter. Finally, Bank of Nova Scotia bought a new stake in shares of Tetra Tech during the 3rd quarter valued at about $23,934,000. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Company Profile

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.