Tetra Tech (NASDAQ:TTEK) Share Price Crosses Above 200-Day Moving Average of $204.35

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $204.35 and traded as high as $233.23. Tetra Tech shares last traded at $233.23, with a volume of 170,820 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TTEK. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Friday. 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 research note on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. 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 research note on Friday, August 2nd. Finally, Maxim Group lifted their price objective on shares of Tetra Tech from $46.80 to $53.60 and gave the company a “buy” rating in a research note on Thursday, May 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.16.

Tetra Tech Trading Down 3.4 %

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $47.46 and its 200-day moving average is $42.19. The firm has a market cap of $12.06 billion, a P/E ratio of 45.59 and a beta of 0.95.

Tetra Tech’s stock is going to split on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly issued shares will be distributed to shareholders after the closing bell on Friday, September 6th.

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 during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that Tetra Tech, Inc. will post 6.24 earnings per share for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Activity

In other news, EVP Leslie L. Shoemaker sold 55,805 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $42.37, for a total transaction of $2,364,234.63. Following the completion of the transaction, the executive vice president now owns 374,435 shares of the company’s stock, valued at $15,863,313.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction dated 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 sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leslie L. Shoemaker sold 55,805 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $42.37, for a total transaction of $2,364,234.63. Following the completion of the sale, the executive vice president now directly owns 374,435 shares of the company’s stock, valued at approximately $15,863,313.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,425 shares of company stock valued at $7,611,238. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors have recently bought and sold shares of TTEK. Rise Advisors LLC bought a new stake in Tetra Tech in the first quarter worth about $27,000. Banque Cantonale Vaudoise bought a new stake in Tetra Tech in the second quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in Tetra Tech in the fourth quarter worth about $33,000. Principal Securities Inc. bought a new stake in Tetra Tech in the fourth quarter worth about $36,000. Finally, Creekmur Asset Management LLC bought a new stake in Tetra Tech in the fourth quarter worth about $38,000. 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.