Tetra Tech Inc. (NASDAQ:TTEK) has been given a consensus rating of “Hold” by the eight analysts that are covering the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $34.67.
A number of equities analysts recently commented on TTEK shares. FBR & Co lifted their price target on Tetra Tech from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Canaccord Genuity reiterated a “buy” rating and set a $37.00 price target on shares of Tetra Tech in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded Tetra Tech from a “sell” rating to a “hold” rating in a report on Monday, July 25th.
In other Tetra Tech news, Director J Kenneth Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $32.75, for a total transaction of $262,000.00. Following the completion of the sale, the director now directly owns 20,930 shares in the company, valued at $685,457.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 16,750 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $31.23, for a total transaction of $523,102.50. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
A number of large investors have recently modified their holdings of TTEK. Tower Research Capital LLC TRC increased its stake in Tetra Tech by 1,444.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,337 shares of the company’s stock worth $102,000 after buying an additional 3,121 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Tetra Tech during the first quarter worth $113,000. US Bancorp DE increased its stake in Tetra Tech by 8.0% in the second quarter. US Bancorp DE now owns 4,196 shares of the company’s stock worth $129,000 after buying an additional 312 shares during the last quarter. Invictus RG increased its stake in Tetra Tech by 1,003.7% in the first quarter. Invictus RG now owns 4,448 shares of the company’s stock worth $133,000 after buying an additional 4,045 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Tetra Tech by 2.9% in the first quarter. Bessemer Group Inc. now owns 7,168 shares of the company’s stock worth $214,000 after buying an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.
Shares of Tetra Tech (NASDAQ:TTEK) opened at 35.44 on Friday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 99.55 and a beta of 1.18. The stock has a 50 day moving average price of $35.05 and a 200 day moving average price of $31.53. Tetra Tech has a 1-year low of $22.85 and a 1-year high of $36.24.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company earned $667 million during the quarter, compared to analysts’ expectations of $498.79 million. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. Tetra Tech’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 EPS. Analysts forecast that Tetra Tech will post $1.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Friday, August 12th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 10th. This represents a $0.36 annualized dividend and a yield of 1.02%. Tetra Tech’s dividend payout ratio (DPR) is presently 100.00%.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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