Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other research firms also recently issued reports on TTEK. KeyCorp lifted their price objective on Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Robert W. Baird lifted their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.48.

Tetra Tech Price Performance

Shares of TTEK opened at $48.86 on Tuesday. The business’s 50 day moving average is $46.97 and its 200 day moving average is $43.07. The company has a market capitalization of $2.61 billion, a PE ratio of 9.89 and a beta of 0.94. Tetra Tech has a 12-month low of $28.67 and a 12-month high of $50.03. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Research analysts expect that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Tetra Tech Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s dividend payout ratio is currently 4.66%.

Insiders Place Their Bets

In other news, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total value of $1,165,350.00. Following the sale, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the transaction, the chief executive officer now owns 124,380 shares in the company, valued at $5,664,762.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the completion of the sale, the senior vice president now owns 43,710 shares in the company, valued at approximately $2,037,497.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,370 shares of company stock valued at $10,880,243 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

A number of large investors have recently made changes to their positions in TTEK. Vanguard Group Inc. lifted its holdings in Tetra Tech by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after buying an additional 14,701 shares in the last quarter. Sarasin & Partners LLP increased its position in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Tetra Tech by 409.4% during the third quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company’s stock valued at $67,231,000 after acquiring an additional 1,145,738 shares in the last quarter. Rheos Capital Works Inc. raised its stake in shares of Tetra Tech by 400.0% during the third quarter. Rheos Capital Works Inc. now owns 684,000 shares of the industrial products company’s stock valued at $32,257,000 after acquiring an additional 547,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Tetra Tech by 27.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock valued at $138,459,000 after purchasing an additional 144,706 shares during the period. 93.89% of the stock is owned by hedge funds and other institutional investors.

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.