Stock analysts at Loop Capital started coverage on shares of Tetra Technologies Inc. (NYSE:TTI) in a research note issued to investors on Friday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other analysts also recently commented on TTI. Wunderlich reduced their target price on Tetra Technologies from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, June 10th. Zacks Investment Research downgraded Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. set a $8.00 target price on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 9th. Credit Suisse Group AG restated an “outperform” rating and issued a $8.00 target price on shares of Tetra Technologies in a research note on Monday, July 18th. Finally, Simmons restated an “overweight” rating and issued a $7.60 target price (up from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Tetra Technologies presently has a consensus rating of “Buy” and a consensus target price of $8.26.
Tetra Technologies (NYSE:TTI) opened at 6.05 on Friday. Tetra Technologies has a 12 month low of $4.62 and a 12 month high of $9.44. The firm’s market cap is $560.87 million. The firm’s 50-day moving average price is $6.06 and its 200-day moving average price is $6.13.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ 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 firm earned $175.66 million during the quarter, compared to the consensus estimate of $188.42 million. During the same period last year, the business posted $0.16 EPS. The business’s revenue was down 44.5% compared to the same quarter last year. On average, equities research analysts expect that Tetra Technologies will post ($0.48) EPS for the current fiscal year.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total transaction of $155,052.17. Following the transaction, the vice president now owns 111,161 shares of the company’s stock, valued at approximately $708,095.57. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.45% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Mason Street Advisors LLC purchased a new position in Tetra Technologies during the second quarter valued at approximately $112,000. Royal Bank of Canada boosted its stake in Tetra Technologies by 3.7% in the second quarter. Royal Bank of Canada now owns 48,301 shares of the company’s stock worth $308,000 after buying an additional 1,736 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Tetra Technologies by 27.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,242,814 shares of the company’s stock worth $7,917,000 after buying an additional 265,957 shares during the period. Legal & General Group Plc boosted its stake in Tetra Technologies by 45.4% in the second quarter. Legal & General Group Plc now owns 20,802 shares of the company’s stock worth $128,000 after buying an additional 6,500 shares during the period. Finally, GLG Partners LP bought a new stake in Tetra Technologies during the second quarter worth approximately $2,321,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.
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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