Tetra Tech, Inc. (NASDAQ:TTEK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received an average recommendation of “Moderate Buy” from the four brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $197.25.

Several research firms have recently commented on TTEK. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. KeyCorp assumed coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target on the stock.

Tetra Tech Stock Performance

Shares of NASDAQ TTEK opened at $190.21 on Friday. The firm has a 50 day moving average of $178.22 and a 200 day moving average of $166.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 44.03 and a beta of 0.96. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $193.79.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $974.00 million. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. During the same period in the previous year, the business posted $1.34 earnings per share. On average, research analysts anticipate that Tetra Tech will post 6.07 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, February 13th. Tetra Tech’s payout ratio is currently 24.07%.

Insider Activity at Tetra Tech

In related news, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the transaction, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at approximately $6,172,199.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the transaction, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 in the last three months. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Tetra Tech by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,303,607 shares of the industrial products company’s stock worth $874,777,000 after buying an additional 61,906 shares during the last quarter. State Street Corp raised its position in Tetra Tech by 1.9% during the 1st quarter. State Street Corp now owns 1,707,196 shares of the industrial products company’s stock worth $281,585,000 after buying an additional 31,942 shares during the last quarter. Sarasin & Partners LLP raised its position in Tetra Tech by 18.3% during the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after buying an additional 189,049 shares during the last quarter. Invesco Ltd. raised its position in Tetra Tech by 7.5% during the 1st quarter. Invesco Ltd. now owns 917,617 shares of the industrial products company’s stock worth $151,353,000 after buying an additional 64,168 shares during the last quarter. Finally, Norges Bank purchased a new position in Tetra Tech during the 4th quarter worth approximately $132,468,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

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.