Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Up 66.5% in February

Tetra Tech, Inc. (NASDAQ:TTEK) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 7,910,000 shares, a growth of 66.5% from the January 31st total of 4,750,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is currently 2.9 days.

Tetra Tech Stock Performance

NASDAQ:TTEK traded down $0.52 during trading hours on Friday, reaching $29.19. 4,326,482 shares of the company’s stock were exchanged, compared to its average volume of 3,355,938. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of 30.66 and a beta of 0.89. The company has a 50-day moving average of $36.62 and a 200 day moving average of $42.60. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech has a 1-year low of $28.98 and a 1-year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Research analysts anticipate that Tetra Tech will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Trading of Tetra Tech

Hedge funds have recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 472 shares during the period. LGT Financial Advisors LLC increased its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Tetra Tech by 3,261.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 587 shares in the last quarter. Canton Hathaway LLC increased its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 516 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Tetra Tech by 400.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 556 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

TTEK has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp decreased their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

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.