Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) Target Price at $48.52

Tetra Tech, Inc. (NASDAQ:TTEK) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $48.52.

Several equities research analysts have recently weighed in on the company. Maxim Group lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp cut their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. Finally, Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Tetra Tech

Institutional investors have recently modified their holdings of the business. New England Research & Management Inc. purchased a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $596,000. Harbor Capital Advisors Inc. boosted its stake in shares of Tetra Tech by 630.8% in the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock valued at $1,718,000 after buying an additional 31,445 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Tetra Tech by 615.8% in the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 19,193 shares in the last quarter. Lecap Asset Management Ltd. boosted its stake in shares of Tetra Tech by 71.3% in the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after buying an additional 18,635 shares in the last quarter. Finally, Perpetual Ltd boosted its stake in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after buying an additional 18,842 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $29.93 on Wednesday. The business has a 50-day moving average of $37.73 and a 200 day moving average of $43.15. Tetra Tech has a 12 month low of $29.23 and a 12 month high of $51.20. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 31.44 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, sell-side analysts forecast that Tetra Tech will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s payout ratio is currently 24.16%.

About Tetra Tech

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.