Tetra Tech (NASDAQ:TTEK) Lowered to “Hold” Rating by StockNews.com

Tetra Tech (NASDAQ:TTEK) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

TTEK has been the topic of a number of other research reports. KeyCorp decreased their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday. Finally, Robert W. Baird raised their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Trading Up 0.8 %

Tetra Tech stock opened at $41.27 on Friday. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. The business has a 50 day moving average price of $47.60 and a two-hundred day moving average price of $44.58. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Insiders Place Their Bets

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TTEK. Sarasin & Partners LLP raised its position in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC increased its position in Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after purchasing an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after purchasing an additional 2,622,288 shares during the last quarter. abrdn plc lifted its position in Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after purchasing an additional 1,644,267 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares during the last quarter. Institutional investors and hedge funds 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.