Tetra Tech (NASDAQ:TTEK) Receives “Outperform” Rating from Royal Bank of Canada

Tetra Tech (NASDAQ:TTEK)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a report released on Friday,Benzinga reports. They presently have a $52.00 price target on the industrial products company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 26.00% from the company’s previous close.

Other research analysts also recently issued research reports about the company. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp decreased their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Trading Up 0.8 %

Shares of TTEK opened at $41.27 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25. Tetra Tech has a 52-week low of $30.92 and a 52-week high of $51.20. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94. The business’s fifty day moving average is $47.60 and its 200-day moving average is $44.58.

Insiders Place Their Bets

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the sale, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock valued at $5,633,239 in the last ninety days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. Geode Capital Management LLC raised its stake in Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares during the last quarter. Vestcor Inc grew its holdings in Tetra Tech by 366.0% during the 3rd quarter. Vestcor Inc now owns 15,220 shares of the industrial products company’s stock worth $718,000 after acquiring an additional 11,954 shares during the period. M&T Bank Corp raised its position in shares of Tetra Tech by 395.0% in the 3rd quarter. M&T Bank Corp now owns 22,320 shares of the industrial products company’s stock worth $1,053,000 after acquiring an additional 17,811 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Tetra Tech by 330.0% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 630,960 shares of the industrial products company’s stock valued at $29,756,000 after purchasing an additional 484,232 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Tetra Tech by 376.3% during the third quarter. Public Employees Retirement System of Ohio now owns 98,740 shares of the industrial products company’s stock worth $4,657,000 after purchasing an additional 78,008 shares during the period. Institutional investors and hedge funds 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.