Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Time to Sell?

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $37.67, but opened at $36.09. Tetra Tech shares last traded at $31.78, with a volume of 1,272,446 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTEK. KeyCorp reduced their target price on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Finally, Robert W. Baird increased their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 38.66 and a beta of 0.90. The company has a 50 day moving average of $40.75 and a 200 day moving average of $44.21.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.57%. Equities research analysts predict that Tetra Tech, Inc. will post 1.45 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.63%. Tetra Tech’s payout ratio is currently 24.16%.

Hedge Funds Weigh In On Tetra Tech

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