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

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird raised their price target on Tetra Tech from $44.60 to $46.00 and gave the company a neutral rating in a report on Thursday, August 1st. KeyCorp raised their price target on Tetra Tech from $46.80 to $49.40 and gave the company an overweight rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price target on Tetra Tech from $46.60 to $51.80 and gave the company an outperform rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $49.16.

Tetra Tech Price Performance

Shares of TTEK stock opened at $46.36 on Friday. The stock’s fifty day moving average is $44.59 and its 200-day moving average is $41.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $2.48 billion, a PE ratio of 9.38 and a beta of 0.95. Tetra Tech has a 52 week low of $28.67 and a 52 week high of $48.26.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results 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. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities research analysts expect that Tetra Tech will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 15th. Tetra Tech’s payout ratio is 4.66%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, SVP Preston Hopson III sold 25,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 43,710 shares of the company’s stock, valued at $2,037,497.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following 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 legal filing with the SEC, which is available at the SEC website. Also, SVP Preston Hopson III sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 43,710 shares in the company, valued at approximately $2,037,497.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,370 shares of company stock valued at $10,880,243. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of Tetra Tech by 19.8% during the fourth quarter. Victory Capital Management Inc. now owns 11,342 shares of the industrial products company’s stock worth $1,893,000 after buying an additional 1,878 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Tetra Tech during the fourth quarter worth about $36,000. Quadrant Capital Group LLC grew its holdings in shares of Tetra Tech by 59.0% during the fourth quarter. Quadrant Capital Group LLC now owns 539 shares of the industrial products company’s stock worth $90,000 after buying an additional 200 shares in the last quarter. Norges Bank bought a new position in shares of Tetra Tech during the fourth quarter worth about $96,655,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Tetra Tech during the fourth quarter worth about $709,000. Institutional investors and hedge funds 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.