Tetra Tech (NASDAQ:TTEK) Rating Lowered to Hold at Cfra

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Cfra downgraded shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a report released on Friday morning, Briefing.com Automated Import reports.

Several other brokerages also recently commented on TTEK. Roth Capital boosted their price objective on Tetra Tech from $75.00 to $84.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Maxim Group boosted their price objective on Tetra Tech from $92.00 to $104.00 and gave the company a buy rating in a research report on Thursday, November 14th. ValuEngine downgraded Tetra Tech from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Finally, BidaskClub downgraded Tetra Tech from a strong-buy rating to a buy rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Tetra Tech currently has a consensus rating of Buy and a consensus price target of $86.00.

Shares of Tetra Tech stock traded up $0.08 during trading hours on Friday, hitting $87.23. The company’s stock had a trading volume of 2,731 shares, compared to its average volume of 266,360. The business has a 50 day moving average price of $86.51 and a two-hundred day moving average price of $79.33. Tetra Tech has a 12-month low of $48.52 and a 12-month high of $90.34. The company has a market cap of $4.76 billion, a PE ratio of 27.45, a PEG ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.73 and a current ratio of 1.43.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, November 13th. The industrial products company reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Tetra Tech had a return on equity of 17.92% and a net margin of 5.11%. The business had revenue of $640.18 million for the quarter, compared to the consensus estimate of $636.89 million. During the same period in the previous year, the business earned $0.75 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. As a group, research analysts anticipate that Tetra Tech will post 3.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.69%. Tetra Tech’s dividend payout ratio is currently 18.93%.

In related news, Director J Christopher Lewis sold 4,489 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $82.12, for a total value of $368,636.68. Following the sale, the director now directly owns 51,519 shares in the company, valued at $4,230,740.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard A. Lemmon sold 11,510 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $82.74, for a total value of $952,337.40. Following the completion of the sale, the senior vice president now owns 45,667 shares in the company, valued at $3,778,487.58. The disclosure for this sale can be found here. Insiders sold 75,559 shares of company stock worth $6,197,716 over the last quarter. 3.00% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of TTEK. Parallel Advisors LLC lifted its position in shares of Tetra Tech by 62.0% in the third quarter. Parallel Advisors LLC now owns 337 shares of the industrial products company’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in Tetra Tech during the third quarter worth approximately $33,000. Winthrop Partners WNY LLC bought a new stake in Tetra Tech during the third quarter worth approximately $33,000. Tower Research Capital LLC TRC bought a new stake in Tetra Tech during the third quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. increased its stake in Tetra Tech by 82.7% during the second quarter. Meeder Asset Management Inc. now owns 625 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 283 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

About Tetra Tech

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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Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

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