Tetra Tech (TTEK) Shares Up 9.6% Following Strong Earnings

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Shares of Tetra Tech, Inc. (NASDAQ:TTEK) shot up 9.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $55.51 and last traded at $55.19. 1,374,425 shares changed hands during trading, an increase of 218% from the average session volume of 432,768 shares. The stock had previously closed at $50.37.

The industrial products company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The firm had revenue of $553.36 million for the quarter, compared to analyst estimates of $558.46 million. During the same period last year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Wednesday, February 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, February 12th. Tetra Tech’s payout ratio is 18.18%.

A number of brokerages have recently commented on TTEK. BidaskClub raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Thursday, November 8th. Robert W. Baird raised their price objective on Tetra Tech from $63.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, November 8th. Maxim Group set a $87.00 price objective on Tetra Tech and gave the stock a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research restated a “hold” rating on shares of Tetra Tech in a research report on Saturday, November 17th. Finally, Boenning Scattergood restated a “buy” rating and set a $80.00 price objective on shares of Tetra Tech in a research report on Thursday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $69.43.

In other news, Director Kirsten M. Volpi sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $66.94, for a total transaction of $80,328.00. Following the completion of the transaction, the director now directly owns 8,801 shares in the company, valued at $589,138.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dan L. Batrack sold 44,869 shares of Tetra Tech stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $65.11, for a total value of $2,921,420.59. Following the completion of the sale, the chief executive officer now owns 305,800 shares of the company’s stock, valued at $19,910,638. The disclosure for this sale can be found here. Insiders have sold 77,382 shares of company stock valued at $4,830,265 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of TTEK. Quantamental Technologies LLC bought a new stake in Tetra Tech in the fourth quarter worth approximately $44,000. Meeder Asset Management Inc. bought a new stake in Tetra Tech in the fourth quarter worth approximately $66,000. Steward Partners Investment Advisory LLC increased its holdings in Tetra Tech by 303.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,215 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Tetra Tech by 4,747.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 1,614 shares in the last quarter. Finally, Private Capital Group LLC increased its holdings in Tetra Tech by 39.3% in the fourth quarter. Private Capital Group LLC now owns 2,792 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 787 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 1.21 and a beta of 1.07. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.27.

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Tetra Tech Company Profile (NASDAQ:TTEK)

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

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