Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) PT at $245.80

Tetra Tech, Inc. (NASDAQ:TTEK) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $245.80.

A number of analysts recently commented on TTEK shares. Robert W. Baird upped their price target on shares of Tetra Tech from $223.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. KeyCorp raised their price target on Tetra Tech from $234.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Maxim Group raised their target price on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Royal Bank of Canada upped their price target on Tetra Tech from $233.00 to $259.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $233.10 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $218.08 and a two-hundred day simple moving average of $203.95. Tetra Tech has a 1-year low of $143.35 and a 1-year high of $241.31. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of 47.19 and a beta of 0.93.

Tetra Tech shares are set to split on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly issued shares will be issued to shareholders after the market closes on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.05. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. Analysts anticipate that Tetra Tech will post 6.24 earnings per share for the current year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.29 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 0.50%. Tetra Tech’s dividend payout ratio is currently 23.48%.

Insider Activity

In related news, CEO Dan L. Batrack sold 17,924 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $227.72, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 24,877 shares in the company, valued at $5,664,990.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tetra Tech news, SVP Preston Hopson III sold 5,000 shares of Tetra Tech stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $233.07, for a total transaction of $1,165,350.00. Following the completion of the sale, the senior vice president now owns 8,742 shares of the company’s stock, valued at $2,037,497.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dan L. Batrack sold 17,924 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $227.72, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now owns 24,877 shares in the company, valued at $5,664,990.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,085 shares of company stock worth $7,611,238. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Tetra Tech

Several hedge funds and other institutional investors have recently bought and sold shares of TTEK. Banque Cantonale Vaudoise purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $28,000. Rise Advisors LLC purchased a new stake in Tetra Tech during the first quarter valued at about $27,000. Jones Financial Companies Lllp bought a new position in shares of Tetra Tech during the fourth quarter valued at about $33,000. EverSource Wealth Advisors LLC increased its holdings in shares of Tetra Tech by 561.3% in the second quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock worth $44,000 after buying an additional 174 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Tetra Tech in the 4th quarter valued at about $36,000. Hedge funds and other 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.