Tetra Tech (NASDAQ:TTEK) Sees Strong Trading Volume – Should You Buy?

Tetra Tech, Inc. (NASDAQ:TTEK) saw an uptick in trading volume on Friday . 3,662,913 shares were traded during mid-day trading, an increase of 121% from the previous session’s volume of 1,653,698 shares.The stock last traded at $38.24 and had previously closed at $39.38.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TTEK. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp reduced 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 note on Friday, November 15th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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 report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Price Performance

The firm has a market capitalization of $10.28 billion, a price-to-earnings ratio of 31.14 and a beta of 0.90. The stock’s fifty day moving average price is $41.06 and its two-hundred day moving average price is $44.30. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TTEK. Allworth Financial LP lifted its stake in Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC lifted its position in shares of Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after buying an additional 444 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Tetra Tech by 3,261.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after buying an additional 587 shares in the last quarter. Canton Hathaway LLC grew its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares during the last quarter. Finally, USA Financial Formulas raised its stake in Tetra Tech by 332.3% during the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares in the last quarter. 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.