Maxim Group Downgrades Tetra Tech (NASDAQ:TTEK) to Hold

Maxim Group cut shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a report issued on Thursday, MarketBeat.com reports.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp reduced their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Finally, Robert W. Baird lifted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.52.

Tetra Tech Price Performance

Tetra Tech stock opened at $33.78 on Thursday. The firm has a market cap of $9.05 billion, a PE ratio of 35.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.25. The stock’s fifty day moving average price is $40.32 and its two-hundred day moving average price is $44.07. Tetra Tech has a one year low of $31.09 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. As a group, research analysts expect that Tetra Tech will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.69%. Tetra Tech’s payout ratio is presently 24.21%.

Insider Activity

In other news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 472 shares during the period. LGT Financial Advisors LLC raised its position in Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Tetra Tech by 3,261.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after buying an additional 587 shares during the period. Canton Hathaway LLC grew its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares during the last quarter. Finally, USA Financial Formulas increased its stake in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after buying an additional 545 shares during the period. 93.89% of the stock is owned by institutional investors.

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.