Tetra Tech (NASDAQ:TTEK) Stock Price Passes Above Two Hundred Day Moving Average of $41.97

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $41.97 and traded as high as $47.23. Tetra Tech shares last traded at $47.16, with a volume of 950,185 shares trading hands.

Wall Street Analysts Forecast Growth

TTEK has been the topic of several research reports. KeyCorp lifted their price objective on shares of Tetra Tech from $46.80 to $49.40 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of Tetra Tech from $44.60 to $46.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average price target of $49.16.

Tetra Tech Stock Up 1.6 %

The company’s fifty day simple moving average is $45.56 and its 200-day simple moving average is $41.97. 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 firm has a market capitalization of $2.52 billion, a PE ratio of 9.55 and a beta of 0.95.

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

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.058 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 0.49%. Tetra Tech’s payout ratio is currently 4.66%.

Insider Transactions at Tetra Tech

In other news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now owns 124,385 shares of the company’s stock, valued at $5,664,990.44. The disclosure for this sale can be found here. Over the last ninety days, 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 institutional investors and hedge funds have recently added to or reduced their stakes in TTEK. UBS Group AG lifted its position in Tetra Tech by 10.9% during the fourth quarter. UBS Group AG now owns 36,681 shares of the industrial products company’s stock valued at $6,123,000 after purchasing an additional 3,600 shares during the period. Treasurer of the State of North Carolina lifted its position in Tetra Tech by 4.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 24,253 shares of the industrial products company’s stock valued at $4,049,000 after purchasing an additional 981 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Tetra Tech in the fourth quarter valued at $1,678,000. KBC Group NV purchased a new position in Tetra Tech in the fourth quarter valued at $167,000. Finally, Jones Financial Companies Lllp purchased a new position in Tetra Tech in the fourth quarter valued at $33,000. 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.