Tetra Tech (NASDAQ:TTEK) Upgraded by StockNews.com to “Buy”

Tetra Tech (NASDAQ:TTEK) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

TTEK has been the subject of several other reports. Robert W. Baird increased their target price on shares of Tetra Tech from $223.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, May 2nd. Maxim Group increased their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Royal Bank of Canada raised their price objective on shares of Tetra Tech from $233.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, KeyCorp raised their price objective on shares of Tetra Tech from $234.00 to $247.00 and gave the stock an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.80.

Tetra Tech Stock Performance

NASDAQ TTEK traded down $4.57 on Monday, hitting $225.43. The stock had a trading volume of 552,879 shares, compared to its average volume of 283,837. Tetra Tech has a one year low of $143.35 and a one year high of $234.94. The company has a quick ratio of 1.24, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock has a market cap of $12.06 billion, a price-to-earnings ratio of 45.63 and a beta of 0.93. The company’s 50-day moving average is $208.22 and its two-hundred day moving average is $194.15.

Tetra Tech’s stock is going to split before the market opens on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be payable to shareholders after the market closes on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.05. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm posted $1.29 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. On average, analysts expect that Tetra Tech will post 6.24 earnings per share for the current year.

Insider Buying and Selling at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the transaction, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Tetra Tech by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after acquiring an additional 14,701 shares during the period. Sarasin & Partners LLP raised its holdings in Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after acquiring an additional 32,053 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 27.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock worth $138,459,000 after acquiring an additional 144,706 shares during the period. Ninety One UK Ltd bought a new position in Tetra Tech in the 2nd quarter worth $135,897,000. Finally, Norges Bank bought a new position in Tetra Tech in the 4th quarter worth $96,655,000. Institutional investors own 93.89% of the company’s stock.

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.