Tetra Tech (NASDAQ:TTEK) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.53 and traded as high as $49.01. Tetra Tech shares last traded at $48.33, with a volume of 892,062 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTEK. KeyCorp raised their price objective on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. 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 research report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.48.

Tetra Tech Trading Down 0.1 %

The company has a 50-day moving average price of $47.36 and a two-hundred day moving average price of $43.53. The stock has a market cap of $2.59 billion, a P/E ratio of 9.78 and a beta of 0.94. 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 (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 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 company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. Tetra Tech’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts expect that Tetra Tech, Inc. will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.48%. Tetra Tech’s dividend payout ratio is 4.66%.

Insider Activity at Tetra Tech

In other news, SVP Preston Hopson III sold 25,000 shares of Tetra Tech stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 43,710 shares in the company, valued at approximately $2,037,497.94. 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. In related news, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $46.61, for a total value of $1,165,350.00. Following the completion of the sale, the senior vice president now owns 43,710 shares in the company, valued at approximately $2,037,497.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,370 shares of company stock worth $10,880,243 in the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its stake in Tetra Tech by 14.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,623 shares of the industrial products company’s stock worth $1,039,000 after buying an additional 728 shares in the last quarter. State of Michigan Retirement System grew its stake in Tetra Tech by 2.3% in the first quarter. State of Michigan Retirement System now owns 13,108 shares of the industrial products company’s stock valued at $2,421,000 after purchasing an additional 300 shares during the last quarter. Denali Advisors LLC raised its holdings in Tetra Tech by 97.1% in the first quarter. Denali Advisors LLC now owns 406 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 200 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Tetra Tech by 8.8% during the first quarter. Legacy Wealth Asset Management LLC now owns 6,314 shares of the industrial products company’s stock valued at $1,166,000 after buying an additional 512 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Tetra Tech by 9.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,836 shares of the industrial products company’s stock valued at $1,078,000 after buying an additional 522 shares in the last quarter. 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.