Tetra Tech (NASDAQ:TTEK) Cut to Hold at StockNews.com

StockNews.com lowered shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research report report published on Monday morning.

TTEK has been the topic of a number of other reports. Robert W. Baird lifted 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 boosted their price target on Tetra Tech from $46.80 to $49.40 and gave the company an overweight rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price target on Tetra Tech from $46.60 to $51.80 and gave the company an outperform rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tetra Tech currently has a consensus rating of Moderate Buy and an average price target of $49.16.

Tetra Tech Stock Performance

Tetra Tech stock opened at $47.17 on Monday. Tetra Tech has a 12-month low of $28.67 and a 12-month high of $48.26. 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 price is $45.32 and its two-hundred day moving average price is $41.84. The stock has a market cap of $12.63 billion, a PE ratio of 9.55 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results 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. 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 quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. As a group, analysts expect that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Thursday, August 15th. Tetra Tech’s payout ratio is 4.66%.

Insider Transactions at Tetra Tech

In related news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 124,385 shares in the company, valued at $5,664,990.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction on 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 owns 124,385 shares in the company, valued at approximately $5,664,990.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock valued at $10,880,243 over the last ninety days. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TTEK. Principal Securities Inc. bought a new position in Tetra Tech in the 4th quarter valued at $36,000. UBS Group AG lifted its position in shares of Tetra Tech by 10.9% during the 4th quarter. UBS Group AG now owns 36,681 shares of the industrial products company’s stock valued at $6,123,000 after buying an additional 3,600 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Tetra Tech by 1.6% during the 4th quarter. Wells Fargo & Company MN now owns 184,079 shares of the industrial products company’s stock worth $30,728,000 after purchasing an additional 2,938 shares in the last quarter. Assetmark Inc. lifted its holdings in Tetra Tech by 30.0% during the 4th quarter. Assetmark Inc. now owns 815 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 188 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Tetra Tech during the 4th quarter worth about $382,000. 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.