Tetra Tech (NASDAQ:TTEK) Price Target Raised to $200.00 at Robert W. Baird

Tetra Tech (NASDAQ:TTEK) had its price target hoisted by Robert W. Baird from $180.00 to $200.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Several other equities research analysts have also recently weighed in on TTEK. Royal Bank of Canada upped 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. Maxim Group increased their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a research note on Tuesday. Finally, KeyCorp started coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They set an overweight rating and a $191.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Tetra Tech has an average rating of Moderate Buy and an average price target of $221.40.

Tetra Tech Trading Up 1.7 %

NASDAQ:TTEK traded up $3.49 during trading hours on Thursday, hitting $207.75. The company had a trading volume of 402,949 shares, compared to its average volume of 308,899. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. The stock has a 50-day moving average price of $186.65 and a 200 day moving average price of $171.64. The company has a market capitalization of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. Tetra Tech has a 52 week low of $132.29 and a 52 week 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 (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.17 earnings per share. Tetra Tech’s quarterly revenue was down 9.5% on a year-over-year basis. On average, equities research analysts predict that Tetra Tech will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a dividend of $0.29 per share. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is currently 21.05%.

Insiders Place Their Bets

In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the sale, the director now directly owns 14,485 shares in the company, valued at approximately $2,390,025. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven M. Burdick sold 7,128 shares of the company’s 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 transaction, the chief financial officer now owns 37,405 shares in the company, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,123 shares of company stock valued at $5,487,673. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of large investors have recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S boosted its position in Tetra Tech by 3.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 75 shares during the last quarter. Hunter Associates Investment Management LLC boosted its holdings in shares of Tetra Tech by 26.4% in the first quarter. Hunter Associates Investment Management LLC now owns 6,130 shares of the industrial products company’s stock worth $1,131,000 after buying an additional 1,280 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in shares of Tetra Tech by 96.2% in the first quarter. Capstone Investment Advisors LLC now owns 2,817 shares of the industrial products company’s stock worth $520,000 after buying an additional 1,381 shares during the last quarter. BNP Paribas Financial Markets grew its position in Tetra Tech by 6.0% during the first quarter. BNP Paribas Financial Markets now owns 198,204 shares of the industrial products company’s stock valued at $36,610,000 after buying an additional 11,297 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in Tetra Tech by 4.4% in the first quarter. Sequoia Financial Advisors LLC now owns 5,460 shares of the industrial products company’s stock worth $1,009,000 after acquiring an additional 228 shares during the period. 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.