Short Interest in Tetra Tech, Inc. (NASDAQ:TTEK) Rises By 24.4%

Tetra Tech, Inc. (NASDAQ:TTEK) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,060,000 shares, a growth of 24.4% from the March 31st total of 852,100 shares. Based on an average daily trading volume, of 270,300 shares, the days-to-cover ratio is currently 3.9 days. Currently, 2.0% of the company’s stock are sold short.

Tetra Tech Stock Performance

TTEK stock traded up $1.98 on Tuesday, hitting $195.18. The company had a trading volume of 308,631 shares, compared to its average volume of 261,951. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $196.48. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 45.24 and a beta of 0.96. The stock’s 50-day simple moving average is $184.83 and its 200 day simple moving average is $170.68.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same period last year, the business posted $1.34 EPS. As a group, equities research analysts expect that Tetra Tech will post 6.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TTEK shares. KeyCorp started coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target on the stock. Maxim Group increased their target price on Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada boosted their price target on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average price target of $201.00.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the transaction, the chief financial officer now owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now directly owns 37,405 shares in the company, valued at $6,172,199.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Tetra Tech during the first quarter valued at $27,000. Contravisory Investment Management Inc. purchased a new position in shares of Tetra Tech during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp purchased a new position in shares of Tetra Tech during the 4th quarter valued at about $33,000. Principal Securities Inc. bought a new position in shares of Tetra Tech during the 4th quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Tetra Tech in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Company Profile

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.