Tetra Tech (NASDAQ:TTEK) PT Raised to $230.00

Tetra Tech (NASDAQ:TTEK) had its price objective boosted by research analysts at Maxim Group from $220.00 to $230.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Maxim Group’s target price indicates a potential upside of 19.49% from the company’s current price.

A number of other brokerages have also recently commented on TTEK. KeyCorp began coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and an average target price of $201.00.

Tetra Tech Trading Down 1.1 %

NASDAQ TTEK opened at $192.49 on Tuesday. The firm has a 50 day simple moving average of $185.52 and a 200-day simple moving average of $171.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech has a one year low of $132.29 and a one year high of $196.48. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 earnings per share. Equities research analysts anticipate that Tetra Tech will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 32,123 shares of company stock worth $5,487,673 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TTEK. Norges Bank acquired a new position in shares of Tetra Tech during the 4th quarter valued at about $96,655,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $82,209,000. International Assets Investment Management LLC grew its position in Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after acquiring an additional 219,742 shares in the last quarter. Sarasin & Partners LLP grew its position in Tetra Tech by 18.3% in the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after acquiring an additional 189,049 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Tetra Tech in the third quarter valued at approximately $23,934,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Company Profile

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.