Tetra Tech (NASDAQ:TTEK) Sets New 1-Year High Following Analyst Upgrade

Tetra Tech, Inc. (NASDAQ:TTEK) reached a new 52-week high during mid-day trading on Tuesday after Maxim Group raised their price target on the stock from $220.00 to $230.00. Maxim Group currently has a buy rating on the stock. Tetra Tech traded as high as $196.13 and last traded at $195.89, with a volume of 48578 shares. The stock had previously closed at $193.20.

Other analysts have also recently issued reports about the company. Royal Bank of Canada raised their price target on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. KeyCorp assumed coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Insider Buying and Selling at Tetra Tech

In other news, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction that occurred 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 sale, 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 through this hyperlink. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares in the company, valued at approximately $5,250,776.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction dated 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 transaction, the director now owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,123 shares of company stock valued at $5,487,673. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Tetra Tech by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after buying an additional 62 shares during the last quarter. AtonRa Partners boosted its stake in shares of Tetra Tech by 1.9% during the fourth quarter. AtonRa Partners now owns 3,454 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 65 shares during the last quarter. Arkadios Wealth Advisors increased its position in Tetra Tech by 2.5% during the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 74 shares in the last quarter. Guinness Asset Management LTD raised its stake in Tetra Tech by 2.6% in the 3rd quarter. Guinness Asset Management LTD now owns 3,332 shares of the industrial products company’s stock valued at $507,000 after purchasing an additional 83 shares during the last quarter. Finally, Hunter Associates Investment Management LLC lifted its holdings in Tetra Tech by 2.0% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 4,320 shares of the industrial products company’s stock valued at $654,000 after purchasing an additional 86 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.96. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The company’s 50 day simple moving average is $185.52 and its 200-day simple moving average is $171.09.

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

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.