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

StockNews.com lowered shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a report released on Thursday.

A number of other equities analysts also recently weighed in on TTEK. 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 report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on shares of Tetra Tech from $233.00 to $259.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Maxim Group lifted their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the company a buy rating in a research note on Thursday, May 16th. Robert W. Baird increased their price objective on Tetra Tech from $223.00 to $230.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Finally, KeyCorp boosted their target price on Tetra Tech from $234.00 to $247.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech presently has an average rating of Moderate Buy and an average price target of $245.80.

Tetra Tech Stock Performance

TTEK stock opened at $235.90 on Thursday. The stock’s 50 day simple moving average is $216.68 and its 200 day simple moving average is $202.38. Tetra Tech has a 12-month low of $143.35 and a 12-month high of $241.31. The firm has a market cap of $12.62 billion, a P/E ratio of 47.75 and a beta of 0.93. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52.

Tetra Tech’s stock is set 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 issued to shareholders after the market closes 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.05. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. As a group, equities research analysts predict that Tetra Tech will post 6.24 EPS for the current year.

Tetra Tech Announces Dividend

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

Insider Activity at Tetra Tech

In other news, SVP Preston Hopson III sold 5,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $233.07, for a total value of $1,165,350.00. Following the transaction, the senior vice president now owns 8,742 shares of the company’s stock, valued at approximately $2,037,497.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tetra Tech news, SVP Preston Hopson III sold 5,000 shares of Tetra Tech stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $233.07, for a total transaction of $1,165,350.00. Following the transaction, the senior vice president now directly owns 8,742 shares in the company, valued at $2,037,497.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total value of $2,364,234.63. Following the completion of the transaction, the executive vice president now owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The disclosure for this sale can be found here. Insiders have sold a total of 34,085 shares of company stock worth $7,611,238 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. CWM LLC boosted its position in Tetra Tech by 20.2% during the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 51 shares during the period. ELCO Management Co. LLC boosted its holdings in shares of Tetra Tech by 4.8% during the second quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 60 shares during the period. GAMMA Investing LLC increased its stake in shares of Tetra Tech by 25.8% during the first quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 62 shares during the period. 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 purchasing an additional 70 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Tetra Tech by 3.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock valued at $456,000 after purchasing an additional 75 shares during the period. Institutional investors 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.