Tetra Tech (NASDAQ:TTEK) Upgraded by StockNews.com to “Buy”

Tetra Tech (NASDAQ:TTEK) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts have also recently commented on TTEK. Royal Bank of Canada increased their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird upped their price target on Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, KeyCorp upped their price target on Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.16.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $46.24 on Friday. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of 9.36 and a beta of 0.95. Tetra Tech has a twelve month low of $28.67 and a twelve month high of $48.26. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $44.24 and a 200 day moving average of $41.17.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Tetra Tech will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dan L. Batrack sold 89,620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the transaction, the chief executive officer now directly owns 124,385 shares in the company, valued at $5,664,990.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now owns 124,385 shares in the company, valued at $5,664,990.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,370 shares of company stock worth $10,880,243. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TTEK. Victory Capital Management Inc. lifted its stake in Tetra Tech by 19.8% during the fourth quarter. Victory Capital Management Inc. now owns 11,342 shares of the industrial products company’s stock worth $1,893,000 after purchasing an additional 1,878 shares in the last quarter. Principal Securities Inc. acquired a new position in Tetra Tech during the fourth quarter worth $36,000. Quadrant Capital Group LLC lifted its stake in Tetra Tech by 59.0% during the fourth quarter. Quadrant Capital Group LLC now owns 539 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 200 shares in the last quarter. Norges Bank acquired a new position in Tetra Tech during the fourth quarter worth $96,655,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tetra Tech in the fourth quarter valued at $709,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.