StockNews.com Lowers Tetra Tech (NASDAQ:TTEK) to Hold

Tetra Tech (NASDAQ:TTEK) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

A number of other research firms have also commented on TTEK. KeyCorp lifted their target price on shares of Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their target price on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Robert W. Baird lifted their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $49.16.

Tetra Tech Price Performance

TTEK traded up $0.68 during midday trading on Monday, reaching $46.79. 890,820 shares of the company’s stock were exchanged, compared to its average volume of 1,363,529. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.47 and a beta of 0.95. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. Tetra Tech has a one year low of $28.67 and a one year high of $48.26. The business has a 50-day simple moving average of $45.07 and a two-hundred day simple moving average of $41.69.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. Tetra Tech’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that Tetra Tech will post 1.25 EPS for the current year.

Insider Activity

In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the sale, the chief executive officer now directly owns 124,385 shares in the company, valued at $5,664,990.44. The disclosure for this sale can be found here. Insiders sold 236,370 shares of company stock valued at $10,880,243 in the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TTEK. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech during the 2nd quarter worth approximately $28,000. Rise Advisors LLC acquired a new position in shares of Tetra Tech during the 1st quarter worth approximately $27,000. Jones Financial Companies Lllp acquired a new stake in shares of Tetra Tech during the 4th quarter worth approximately $33,000. EverSource Wealth Advisors LLC boosted its position in shares of Tetra Tech by 561.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 174 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Tetra Tech during the 4th quarter worth approximately $36,000. 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.