KeyCorp Boosts Tetra Tech (NASDAQ:TTEK) Price Target to $219.00

Tetra Tech (NASDAQ:TTEK) had its price objective raised by equities researchers at KeyCorp from $209.00 to $219.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target suggests a potential upside of 5.42% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Maxim Group boosted their price target on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird upped their target price on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada upped their target price on Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $221.40.

Tetra Tech Stock Up 1.7 %

Shares of NASDAQ:TTEK traded up $3.49 during midday trading on Friday, reaching $207.75. The company had a trading volume of 402,949 shares, compared to its average volume of 270,248. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $186.65 and its 200 day moving average price is $171.64. The stock has a market cap of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $208.76.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a return on equity of 21.60% and a net margin of 5.36%. The business’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. Research analysts forecast that Tetra Tech will post 6.07 EPS for the current fiscal year.

Insider Activity at Tetra Tech

In related news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the sale, the senior vice president now directly owns 8,360 shares in the company, valued at $1,475,707.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the sale, the senior vice president now directly owns 8,360 shares in the company, valued at $1,475,707.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the sale, the director now owns 14,485 shares of the company’s stock, valued at $2,390,025. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,123 shares of company stock worth $5,487,673. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sarasin & Partners LLP lifted its stake in Tetra Tech by 2.6% during the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after purchasing an additional 32,053 shares during the last quarter. Invesco Ltd. lifted its stake in Tetra Tech by 6.2% during the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock worth $133,731,000 after purchasing an additional 51,139 shares during the last quarter. Norges Bank bought a new stake in Tetra Tech during the fourth quarter worth $96,655,000. Vontobel Holding Ltd. lifted its stake in Tetra Tech by 2.8% during the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after purchasing an additional 14,334 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Tetra Tech by 8.8% during the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock worth $86,088,000 after purchasing an additional 41,860 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

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.