Tetra Tech (NASDAQ:TTEK) Upgraded to Buy at Northcoast Research

Northcoast Research upgraded shares of Tetra Tech (NASDAQ:TTEK) from a neutral rating to a buy rating in a report published on Thursday, Marketbeat reports. Northcoast Research currently has $225.00 price objective on the industrial products company’s stock.

A number of other equities research analysts also recently commented on TTEK. Maxim Group upped their price objective on Tetra Tech from $220.00 to $230.00 and gave the company a buy rating in a report on Tuesday. KeyCorp initiated coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an overweight rating and a $191.00 price target for the company. Robert W. Baird raised their price objective on Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price target on Tetra Tech from $192.00 to $203.00 and gave the stock an outperform rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has a consensus rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Trading Up 1.7 %

TTEK traded up $3.49 during mid-day trading on Thursday, reaching $207.75. The stock had a trading volume of 402,949 shares, compared to its average volume of 308,899. The firm’s fifty day simple moving average is $186.65 and its two-hundred day simple moving average is $171.64. The stock has a market capitalization of $11.11 billion, a P/E ratio of 42.05 and a beta of 0.93. Tetra Tech has a 52 week low of $132.29 and a 52 week high of $208.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 1.24.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.17 earnings per share. The company’s revenue was down 9.5% on a year-over-year basis. On average, equities analysts predict that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a $0.29 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.56%. Tetra Tech’s payout ratio is presently 21.05%.

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the sale, the chief financial officer now owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the transaction, the chief financial officer now owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock valued at $5,487,673 in the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Tetra Tech in the 4th quarter valued at about $96,655,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Tetra Tech during the 4th quarter worth approximately $82,209,000. International Assets Investment Management LLC increased its holdings in shares of Tetra Tech by 16,621.9% during the 4th quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock worth $36,902,000 after acquiring an additional 219,742 shares during the last quarter. Sarasin & Partners LLP increased its holdings in shares of 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 acquiring an additional 189,049 shares during the last quarter. Finally, Bank of Nova Scotia bought a new stake in Tetra Tech in the 3rd quarter valued at $23,934,000. 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.