Tetra Tech (NASDAQ:TTEK) PT Raised to $233.00 at Royal Bank of Canada

Tetra Tech (NASDAQ:TTEK) had its target price increased by equities researchers at Royal Bank of Canada from $203.00 to $233.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 12.15% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. KeyCorp initiated coverage on Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price objective on the stock. Maxim Group lifted their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird increased their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.40.

Tetra Tech Trading Up 1.7 %

Shares of TTEK traded up $3.49 during mid-day trading on Friday, hitting $207.75. 402,949 shares of the company’s stock traded hands, compared to its average volume of 270,248. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. Tetra Tech has a 1 year low of $132.29 and a 1 year high of $208.76. The business’s 50-day moving average price is $186.04 and its 200-day moving average price is $171.32. The firm has a market capitalization of $11.11 billion, a P/E ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.60%. Tetra Tech’s revenue was down 9.5% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. As a group, sell-side analysts forecast that Tetra Tech will post 6.07 EPS for the current fiscal year.

Insider Transactions at Tetra Tech

In other news, Director J Kenneth Thompson sold 8,400 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the sale, the director now directly owns 14,485 shares in the company, valued at approximately $2,390,025. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of Tetra Tech stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction of $984,981.60. Following the transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the sale, the director now directly owns 14,485 shares of the company’s stock, valued at $2,390,025. The disclosure for this sale can be found here. Insiders have sold 32,123 shares of company stock worth $5,487,673 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTEK. Commonwealth Equity Services LLC lifted its position in shares of Tetra Tech by 6.1% in the third quarter. Commonwealth Equity Services LLC now owns 5,046 shares of the industrial products company’s stock valued at $767,000 after acquiring an additional 290 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Tetra Tech by 7.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the industrial products company’s stock worth $282,000 after purchasing an additional 134 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Tetra Tech by 13.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 35,971 shares of the industrial products company’s stock valued at $5,469,000 after buying an additional 4,149 shares in the last quarter. Raymond James & Associates raised its position in shares of Tetra Tech by 29.3% during the third quarter. Raymond James & Associates now owns 34,158 shares of the industrial products company’s stock valued at $5,193,000 after buying an additional 7,744 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Tetra Tech by 7.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,558 shares of the industrial products company’s stock worth $3,429,000 after buying an additional 1,566 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.