Tetra Tech, Inc. (NASDAQ:TTEK) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $49.16.

TTEK has been the topic of a number of research reports. KeyCorp upped their price target on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird raised 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. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, September 14th.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $46.11 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech has a one year low of $28.67 and a one year high of $48.26. The firm has a market capitalization of $2.47 billion, a P/E ratio of 9.33 and a beta of 0.95. The company’s fifty day moving average is $44.95 and its two-hundred day moving average is $41.62.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Analysts forecast that Tetra Tech will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s payout ratio is currently 4.66%.

Insider Buying and Selling

In other news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 owns 124,385 shares of the company’s stock, valued at $5,664,990.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the transaction, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 124,385 shares in the company, valued at $5,664,990.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,370 shares of company stock worth $10,880,243. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after buying an additional 51 shares during the period. ELCO Management Co. LLC lifted its stake in shares of Tetra Tech by 4.8% in the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 60 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Tetra Tech by 25.8% during the 1st 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 increased its position 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 in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Tetra Tech by 3.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock valued at $456,000 after buying an additional 75 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.