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

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

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

Tetra Tech Stock Performance

Tetra Tech stock traded up $0.14 during trading hours on Friday, hitting $48.37. The company had a trading volume of 1,509,718 shares, compared to its average volume of 1,357,559. Tetra Tech has a one year low of $28.67 and a one year high of $48.59. The firm has a market cap of $12.95 billion, a PE ratio of 9.79 and a beta of 0.94. The firm has a 50-day moving average of $162.98 and a 200 day moving average of $188.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.26 EPS. The business’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that Tetra Tech will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Dan L. Batrack sold 89,620 shares of the firm’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 sale, the chief executive officer now directly owns 124,380 shares in the company, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the 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 transaction, the chief executive officer now directly owns 124,380 shares in the company, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,370 shares of company stock valued at $10,880,243. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Large investors have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in shares of Tetra Tech in the 2nd quarter worth approximately $28,000. Rise Advisors LLC bought a new position in Tetra Tech during the first quarter worth $27,000. Jones Financial Companies Lllp acquired a new position in Tetra Tech in the fourth quarter valued at $33,000. EverSource Wealth Advisors LLC boosted its position in Tetra Tech by 561.3% during the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in Tetra Tech during the 4th quarter worth about $38,000. Institutional investors own 93.89% of the company’s stock.

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.