Tetra Tech (NASDAQ:TTEK) Hits New 1-Year Low – What’s Next?

Tetra Tech, Inc. (NASDAQ:TTEK) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $29.23 and last traded at $29.60, with a volume of 504581 shares trading hands. The stock had previously closed at $29.64.

Analysts Set New Price Targets

TTEK has been the subject of a number of research analyst reports. Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. KeyCorp cut their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Robert W. Baird increased their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Tetra Tech Trading Up 0.0 %

The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $37.05 and a two-hundred day moving average price of $42.83. The stock has a market cap of $7.95 billion, a P/E ratio of 31.19 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. On average, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is currently 24.21%.

Insider Buying and Selling

In other news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates grew its stake in Tetra Tech by 529.3% during the 3rd quarter. Raymond James & Associates now owns 187,676 shares of the industrial products company’s stock valued at $8,851,000 after purchasing an additional 157,855 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Tetra Tech by 388.1% in the 3rd quarter. Signaturefd LLC now owns 1,562 shares of the industrial products company’s stock valued at $74,000 after acquiring an additional 1,242 shares during the last quarter. Private Advisor Group LLC grew its position in Tetra Tech by 395.9% during the 3rd quarter. Private Advisor Group LLC now owns 7,092 shares of the industrial products company’s stock worth $334,000 after purchasing an additional 5,662 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Tetra Tech by 20,753.3% in the 3rd quarter. International Assets Investment Management LLC now owns 277,140 shares of the industrial products company’s stock valued at $13,070,000 after buying an additional 275,811 shares during the period. Finally, Allworth Financial LP boosted its position in Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.