Tetra Tech (NASDAQ:TTEK) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a report released on Friday.

A number of other brokerages have also recently commented on TTEK. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday. KeyCorp decreased their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Robert W. Baird upped their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Trading Up 0.8 %

Tetra Tech stock traded up $0.31 during mid-day trading on Friday, hitting $41.27. The company’s stock had a trading volume of 4,176,228 shares, compared to its average volume of 2,323,584. The stock’s fifty day moving average is $47.60 and its two-hundred day moving average is $44.58. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. Tetra Tech has a 1 year low of $30.92 and a 1 year high of $51.20. The firm has a market capitalization of $11.05 billion, a PE ratio of 33.50 and a beta of 0.94.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s payout ratio is currently 18.67%.

Insider Transactions at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,750 shares of company stock worth $5,633,239. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its position in shares of Tetra Tech by 43.3% in the 1st quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock worth $604,000 after acquiring an additional 988 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tetra Tech by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after acquiring an additional 14,701 shares during the period. Edgestream Partners L.P. increased its holdings in Tetra Tech by 355.8% during the 1st quarter. Edgestream Partners L.P. now owns 9,302 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 7,261 shares during the period. Covestor Ltd boosted its position in Tetra Tech by 421.1% during the 1st quarter. Covestor Ltd now owns 495 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 400 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in shares of Tetra Tech by 8.3% during the 1st quarter. Bahl & Gaynor Inc. now owns 41,546 shares of the industrial products company’s stock valued at $7,674,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors 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.