Tetra Tech (NASDAQ:TTEK) Sets New 12-Month High at $235.61

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price hit a new 52-week high on Thursday . The company traded as high as $235.61 and last traded at $235.07, with a volume of 8775 shares changing hands. The stock had previously closed at $234.79.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TTEK. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $233.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Maxim Group upped their price objective on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, May 2nd. Finally, KeyCorp upped their price target on shares of Tetra Tech from $234.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $245.80.

Tetra Tech Stock Performance

The company has a market cap of $12.61 billion, a P/E ratio of 47.71 and a beta of 0.93. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $214.49 and a 200-day moving average price of $200.68.

Tetra Tech’s stock is going to split on the morning of Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly created shares will be payable to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.05. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $1.29 earnings per share. Equities analysts expect that Tetra Tech, Inc. will post 6.24 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, August 15th. Tetra Tech’s payout ratio is currently 23.48%.

Insider Buying and Selling at Tetra Tech

In other news, CEO Dan L. Batrack sold 17,924 shares of Tetra Tech stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $227.72, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now owns 24,877 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Dan L. Batrack sold 17,924 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $227.72, for a total transaction of $4,081,653.28. Following the sale, the chief executive officer now directly owns 24,877 shares of the company’s stock, valued at $5,664,990.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Preston Hopson III sold 5,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $233.07, for a total value of $1,165,350.00. Following the completion of the transaction, the senior vice president now owns 8,742 shares of the company’s stock, valued at approximately $2,037,497.94. The disclosure for this sale can be found here. In the last three months, insiders sold 34,085 shares of company stock valued at $7,611,238. 0.61% of the stock is owned by insiders.

Institutional Trading of Tetra Tech

A number of hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech in the 2nd quarter worth about $28,000. Rise Advisors LLC purchased a new stake in shares of Tetra Tech in the first quarter worth approximately $27,000. Jones Financial Companies Lllp purchased a new position in Tetra Tech during the fourth quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its position in Tetra Tech by 561.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after buying 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 valued at $36,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.