Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. Robert W. Baird boosted their price target on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, KeyCorp upped their price target on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average target price of $49.16.

Tetra Tech Trading Up 0.3 %

NASDAQ TTEK opened at $48.37 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. Tetra Tech has a 1-year low of $28.67 and a 1-year high of $48.59. The firm’s fifty day simple moving average is $46.18 and its 200-day simple moving average is $42.36. The company has a market capitalization of $2.59 billion, a PE ratio of 9.79 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last issued its 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 analyst estimates 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 was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. As a group, sell-side analysts anticipate that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of the transaction, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction 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 approximately $6,655,936. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of the sale, the senior vice president now directly owns 43,710 shares in the company, valued at approximately $2,037,497.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,370 shares of company stock valued at $10,880,243. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Nwam LLC acquired a new position in shares of Tetra Tech in the 1st quarter worth approximately $1,123,000. Sarasin & Partners LLP grew its holdings in shares of Tetra Tech by 2.6% during the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after purchasing an additional 32,053 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Tetra Tech by 88.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 12,384 shares of the industrial products company’s stock valued at $2,288,000 after buying an additional 5,819 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Tetra Tech by 26.5% in the first quarter. Van ECK Associates Corp now owns 39,564 shares of the industrial products company’s stock valued at $7,307,000 after buying an additional 8,289 shares during the last quarter. Finally, Perpetual Ltd lifted its position in Tetra Tech by 22.0% during the 1st quarter. Perpetual Ltd now owns 37,934 shares of the industrial products company’s stock worth $7,007,000 after buying an additional 6,842 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

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.