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

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

Other equities research analysts have also issued reports about the company. Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday. Finally, KeyCorp dropped their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Stock Performance

Tetra Tech stock opened at $41.27 on Friday. The company’s 50-day moving average price is $47.60 and its 200-day moving average price is $44.58. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The company has a market cap of $11.05 billion, a PE ratio of 33.55 and a beta of 0.94. Tetra Tech has a twelve month low of $30.92 and a twelve month high of $51.20.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is presently 18.70%.

Insider Buying and Selling

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction 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. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock valued at $5,633,239 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors have recently added to or reduced their stakes in TTEK. Allworth Financial LP boosted its holdings in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares in the last quarter. LGT Financial Advisors LLC raised its stake 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 acquiring an additional 444 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech during the second quarter valued at approximately $28,000. Venturi Wealth Management LLC boosted its stake in Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 587 shares in the last quarter. Finally, Canton Hathaway LLC grew its holdings in Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares during the last quarter. 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.