Tetra Tech (NASDAQ:TTEK) Lifted to “Buy” at StockNews.com

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

TTEK has been the subject of a number of other reports. KeyCorp upped their price objective on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an overweight rating in a research report on Friday. Royal Bank of Canada increased their target price on shares of Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a research report on Friday. Maxim Group raised their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. Robert W. Baird raised their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a research report on Thursday. Finally, Northcoast Research upgraded shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 price objective for the company in a research report on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK opened at $207.75 on Friday. The company’s fifty day moving average price is $186.65 and its 200 day moving average price is $171.74. Tetra Tech has a 1 year low of $132.29 and a 1 year high of $208.76. The company has a market capitalization of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 1.24.

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, 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 net margin of 5.36% and a return on equity of 21.16%. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, research analysts predict that Tetra Tech will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.29 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is 21.05%.

Insider Activity at Tetra Tech

In related news, SVP Brian N. Carter sold 5,580 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the transaction, the senior vice president now owns 8,360 shares in the company, valued at $1,475,707.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,595 shares of company stock valued at $2,925,482 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTEK. Contravisory Investment Management Inc. acquired a new position in Tetra Tech during the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new stake in shares of Tetra Tech in the 1st quarter worth approximately $27,000. Jones Financial Companies Lllp purchased a new position in Tetra Tech in the 4th quarter valued at approximately $33,000. Principal Securities Inc. acquired a new position in Tetra Tech during the fourth quarter worth $36,000. Finally, Millburn Ridgefield Corp purchased a new stake in Tetra Tech during the third quarter worth $37,000. Institutional investors and hedge funds 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.