Tetra Tech (NASDAQ:TTEK) Price Target Raised to $33.00

Tetra Tech (NASDAQ:TTEK) had its price target boosted by Robert W. Baird from $31.00 to $33.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on TTEK. KeyCorp decreased their price objective on Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Maxim Group downgraded shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.15.

Tetra Tech Stock Up 1.7 %

Shares of NASDAQ TTEK opened at $35.49 on Thursday. Tetra Tech has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $9.51 billion, a P/E ratio of 37.28 and a beta of 0.92. The firm has a 50 day moving average price of $30.07 and a 200 day moving average price of $36.39.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Analysts expect that Tetra Tech will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.065 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech’s dividend payout ratio (DPR) is currently 24.21%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its position in Tetra Tech by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock worth $2,172,000 after buying an additional 400 shares in the last quarter. Nordea Investment Management AB raised its holdings in Tetra Tech by 0.9% during the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc boosted its position in Tetra Tech by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock valued at $331,000 after purchasing an additional 438 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Tetra Tech by 13.0% in the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 461 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Tetra Tech by 9.7% during the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds 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.