Tetra Technologies Inc. (NYSE:TTI) has earned an average rating of “Buy” from the sixteen brokerages that are covering the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.40.
TTI has been the subject of a number of research reports. Zacks Investment Research cut Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Loop Capital initiated coverage on Tetra Technologies in a research note on Friday. They issued a “buy” rating for the company. Simmons reissued an “overweight” rating and issued a $7.60 price objective (up previously from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. Morgan Stanley set a $10.00 price objective on Tetra Technologies and gave the company a “buy” rating in a research note on Wednesday. Finally, Wunderlich raised their price objective on Tetra Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, June 16th.
Shares of Tetra Technologies (NYSE:TTI) opened at 6.11 on Tuesday. The company has a 50-day moving average price of $6.06 and a 200-day moving average price of $6.14. Tetra Technologies has a 1-year low of $4.62 and a 1-year high of $9.44. The company’s market cap is $566.43 million.
Tetra Technologies (NYSE:TTI) last released its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The business earned $175.66 million during the quarter, compared to analysts’ expectations of $188.42 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue was down 44.5% on a year-over-year basis. Equities research analysts expect that Tetra Technologies will post ($0.48) earnings per share for the current fiscal year.
In related news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the sale, the vice president now directly owns 111,161 shares in the company, valued at $708,095.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.45% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Prudential Financial Inc. raised its stake in shares of Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock worth $2,097,000 after buying an additional 97,200 shares during the period. Algert Global LLC raised its stake in shares of Tetra Technologies by 363.4% in the first quarter. Algert Global LLC now owns 52,505 shares of the company’s stock valued at $333,000 after buying an additional 41,175 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Tetra Technologies by 4.2% in the first quarter. BlackRock Group LTD now owns 168,836 shares of the company’s stock valued at $1,072,000 after buying an additional 6,741 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock valued at $34,572,000 after buying an additional 16,658 shares during the last quarter. Finally, Menta Capital LLC raised its stake in shares of Tetra Technologies by 1.9% in the first quarter. Menta Capital LLC now owns 109,753 shares of the company’s stock valued at $697,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 89.92% of the company’s stock.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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