Tetra Tech (NASDAQ:TTEK) Price Target Cut to $34.00 by Analysts at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its price target decreased by research analysts at KeyCorp from $45.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price points to a potential upside of 12.51% from the stock’s previous close.

Several other brokerages have also commented on TTEK. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus target price of $45.72.

Tetra Tech Price Performance

TTEK opened at $30.22 on Wednesday. The company’s 50-day simple moving average is $29.73 and its two-hundred day simple moving average is $38.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $8.10 billion, a P/E ratio of 31.74 and a beta of 0.89. Tetra Tech has a 52-week low of $27.27 and a 52-week high of $51.20.

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

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.40% of the company’s stock.

Institutional Trading of Tetra Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock worth $1,032,338,000 after buying an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Tetra Tech by 2.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock valued at $558,512,000 after acquiring an additional 381,437 shares during the last quarter. Sarasin & Partners LLP purchased a new stake in Tetra Tech in the 1st quarter worth $144,799,000. Amundi boosted its holdings in shares of Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after purchasing an additional 117,304 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Tetra Tech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock valued at $188,487,000 after purchasing an additional 13,616 shares in the last quarter. Institutional investors 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.