Tetra Tech, Inc. (NASDAQ:TTEK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $49.32.

Several research firms have weighed in on TTEK. KeyCorp lowered their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Robert W. Baird raised their price target 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 reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Finally, StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently modified their holdings of TTEK. ELCO Management Co. LLC boosted its stake in Tetra Tech by 4.8% during the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 60 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Tetra Tech by 4.8% during the 2nd quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock worth $312,000 after buying an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Tetra Tech by 4.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 77 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Tetra Tech by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock valued at $2,296,000 after acquiring an additional 86 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Tetra Tech during the 2nd quarter valued at approximately $28,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $39.80 on Tuesday. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 32.31 and a beta of 0.88. The stock has a fifty day simple moving average of $43.70 and a 200 day simple moving average of $44.41. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech has a twelve month low of $31.61 and a twelve month high of $51.20.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.58%. Tetra Tech’s dividend payout ratio (DPR) is presently 18.70%.

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.