Tetra Tech, Inc. (NASDAQ:TTEK) Receives $49.32 Average Price Target from Analysts

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $49.32.

Several research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. KeyCorp cut their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Retirement Systems of Alabama increased its stake in shares of Tetra Tech by 393.4% in the 3rd quarter. Retirement Systems of Alabama now owns 390,476 shares of the industrial products company’s stock valued at $18,415,000 after purchasing an additional 311,338 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Tetra Tech in the third quarter valued at approximately $2,345,000. Synovus Financial Corp increased its position in shares of Tetra Tech by 400.0% in the third quarter. Synovus Financial Corp now owns 7,335 shares of the industrial products company’s stock valued at $346,000 after buying an additional 5,868 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Tetra Tech by 226.7% during the 3rd quarter. Tidal Investments LLC now owns 11,722 shares of the industrial products company’s stock worth $553,000 after buying an additional 8,134 shares during the period. Finally, Cim Investment Management Inc. raised its stake in shares of Tetra Tech by 400.0% during the 3rd quarter. Cim Investment Management Inc. now owns 5,255 shares of the industrial products company’s stock worth $248,000 after buying an additional 4,204 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of TTEK opened at $42.41 on Friday. The company’s fifty day moving average price is $45.96 and its 200-day moving average price is $44.54. Tetra Tech has a 1-year low of $31.61 and a 1-year high of $51.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $11.35 billion, a PE ratio of 34.42 and a beta of 0.89.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.55%. Tetra Tech’s dividend payout ratio is presently 18.67%.

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.