Tetra Tech (NASDAQ:TTEK) PT Raised to $200.00 at Robert W. Baird

Tetra Tech (NASDAQ:TTEK) had its target price upped by Robert W. Baird from $180.00 to $200.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Several other research analysts have also recently issued reports on the stock. KeyCorp initiated coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They set an overweight rating and a $191.00 target price for the company. Maxim Group raised their target price on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada raised their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an outperform rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $221.40.

Tetra Tech Trading Up 1.7 %

NASDAQ TTEK opened at $207.75 on Thursday. The company has a fifty day simple moving average of $186.65 and a two-hundred day simple moving average of $171.74. The stock has a market cap of $11.11 billion, a P/E ratio of 42.05 and a beta of 0.93. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $208.76. The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly 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. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $1.17 earnings per share. The business’s quarterly revenue was down 9.5% on a year-over-year basis. On average, analysts forecast that Tetra Tech will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is currently 21.05%.

Insider Activity at Tetra Tech

In related news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 29,890 shares in the company, valued at $5,250,776.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Brian N. Carter sold 5,580 shares of Tetra Tech stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares in the company, valued at $1,475,707.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech 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 sale, the chief financial officer now owns 29,890 shares in the company, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,595 shares of company stock worth $2,925,482. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

Several institutional investors have recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Tetra Tech by 3.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock valued at $456,000 after purchasing an additional 75 shares during the period. Hunter Associates Investment Management LLC grew its position in shares of Tetra Tech by 26.4% in the first quarter. Hunter Associates Investment Management LLC now owns 6,130 shares of the industrial products company’s stock valued at $1,131,000 after purchasing an additional 1,280 shares during the period. Capstone Investment Advisors LLC grew its position in shares of Tetra Tech by 96.2% in the first quarter. Capstone Investment Advisors LLC now owns 2,817 shares of the industrial products company’s stock valued at $520,000 after purchasing an additional 1,381 shares during the period. BNP Paribas Financial Markets grew its position in shares of Tetra Tech by 6.0% in the first quarter. BNP Paribas Financial Markets now owns 198,204 shares of the industrial products company’s stock valued at $36,610,000 after purchasing an additional 11,297 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Tetra Tech by 4.4% in the first quarter. Sequoia Financial Advisors LLC now owns 5,460 shares of the industrial products company’s stock worth $1,009,000 after buying an additional 228 shares in the last quarter. 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.