Tetra Tech (NASDAQ:TTEK) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research report released on Wednesday morning.

Other analysts have also issued reports about the company. Northcoast Research raised Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price on the stock in a report on Thursday, May 2nd. Royal Bank of Canada raised their price objective on Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a report on Friday, May 3rd. Maxim Group raised their price objective on Tetra Tech from $234.00 to $268.00 and gave the company a buy rating in a report on Thursday, May 16th. KeyCorp raised their price objective on Tetra Tech from $231.00 to $234.00 and gave the company an overweight rating in a report on Thursday, May 23rd. Finally, Robert W. Baird raised their price objective on Tetra Tech from $200.00 to $223.00 and gave the company a neutral rating in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $236.60.

Tetra Tech Stock Up 0.0 %

Tetra Tech stock opened at $207.69 on Wednesday. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 42.04 and a beta of 0.98. Tetra Tech has a 52 week low of $143.35 and a 52 week high of $221.40. The business’s 50-day moving average price is $205.10 and its 200 day moving average price is $184.38. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. Tetra Tech’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. As a group, sell-side analysts anticipate that Tetra Tech will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Activity

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the transaction, the executive vice president now owns 74,887 shares in the company, valued at $15,863,313.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Tetra Tech in the first quarter valued at approximately $27,000. Contravisory Investment Management Inc. purchased a new position in Tetra Tech during the fourth quarter worth approximately $26,000. Jones Financial Companies Lllp purchased a new position in Tetra Tech during the fourth quarter worth approximately $33,000. Principal Securities Inc. purchased a new position in Tetra Tech during the fourth quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC purchased a new position in Tetra Tech during the fourth quarter worth approximately $38,000. Hedge funds and other 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.