Tetra Tech, Inc. (NASDAQ:TTEK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $245.80.

TTEK has been the topic of several recent research reports. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price target on Tetra Tech from $233.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Thursday, May 2nd. Maxim Group upped their price objective on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, KeyCorp lifted their target price on shares of Tetra Tech from $234.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

Insider Activity

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the transaction, the executive vice president now directly owns 74,887 shares in the company, valued at $15,863,313.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the sale, the executive vice president now directly 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 can be accessed through the SEC website. Also, SVP Preston Hopson III sold 5,000 shares of the firm’s 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. Insiders sold 34,085 shares of company stock worth $7,611,238 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Tetra Tech

Several large investors have recently modified their holdings of TTEK. Retirement Systems of Alabama boosted its stake in shares of Tetra Tech by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock valued at $12,921,000 after acquiring an additional 205 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Tetra Tech by 743.1% during the 4th quarter. Jump Financial LLC now owns 22,232 shares of the industrial products company’s stock worth $3,711,000 after purchasing an additional 19,595 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Tetra Tech by 1,054.4% during the fourth quarter. Spire Wealth Management now owns 22,650 shares of the industrial products company’s stock worth $3,706,000 after buying an additional 20,688 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Tetra Tech in the fourth quarter valued at approximately $1,821,000. Finally, Nwam LLC purchased a new position in shares of Tetra Tech during the first quarter valued at approximately $1,123,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Trading Up 0.7 %

NASDAQ TTEK opened at $236.61 on Wednesday. The firm’s fifty day moving average price is $215.62 and its 200 day moving average price is $201.92. Tetra Tech has a 12 month low of $143.35 and a 12 month high of $241.31. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 47.90 and a beta of 0.93.

Tetra Tech shares are scheduled to split before the market opens on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be issued to shareholders after the closing bell on Friday, September 6th.

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

Tetra Tech Announces Dividend

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

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.