Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at Northcoast Research

Tetra Tech (NASDAQ:TTEK) was upgraded by equities researchers at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued on Thursday, MarketBeat reports. The brokerage currently has a $225.00 price objective on the industrial products company’s stock. Northcoast Research’s target price indicates a potential upside of 8.30% from the company’s previous close.

Several other research firms also recently issued reports on TTEK. KeyCorp initiated coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target on the stock. Maxim Group raised 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. Robert W. Baird boosted their price target on Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.40.

Tetra Tech Stock Up 1.7 %

Shares of NASDAQ TTEK traded up $3.49 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 quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $208.76. The firm has a market capitalization of $11.11 billion, a P/E ratio of 42.05 and a beta of 0.93. The business has a 50 day moving average of $186.65 and a two-hundred day moving average of $171.64.

Tetra Tech (NASDAQ:TTEK) last released 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 during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. Tetra Tech’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. As a group, equities research analysts forecast that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Tetra Tech

In other news, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the sale, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Tetra Tech news, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The disclosure for this sale can be found here. Insiders have sold 32,123 shares of company stock worth $5,487,673 over the last quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Tetra Tech

Hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in Tetra Tech in the first quarter worth $27,000. Contravisory Investment Management Inc. bought a new position in shares of Tetra Tech during the fourth quarter worth about $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Tetra Tech in the 4th quarter worth about $33,000. Principal Securities Inc. bought a new stake in Tetra Tech in the 4th quarter valued at about $36,000. Finally, Creekmur Asset Management LLC bought a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $38,000. 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.