Analysts Set Tetra Tech, Inc. (NASDAQ:TTEK) PT at $48.52

Tetra Tech, Inc. (NASDAQ:TTEK) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $48.52.

Several analysts have recently issued reports on the company. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp reduced their price objective on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Finally, Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th.

Tetra Tech Stock Down 0.1 %

TTEK opened at $29.93 on Wednesday. The business’s fifty day moving average is $37.73 and its two-hundred day moving average is $43.15. 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 company has a market cap of $8.02 billion, a price-to-earnings ratio of 31.44 and a beta of 0.89. Tetra Tech has a one year low of $29.23 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its 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%. Analysts anticipate that Tetra Tech will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. Tetra Tech’s dividend payout ratio is presently 24.16%.

Insider Buying and Selling

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at approximately $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 at the SEC website. Corporate insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after buying an additional 3,785,189 shares in the last quarter. Norges Bank acquired a new position in Tetra Tech during the fourth quarter valued at approximately $121,390,000. Jacobs Levy Equity Management Inc. lifted its position in Tetra Tech by 814.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company’s stock valued at $90,329,000 after buying an additional 2,019,295 shares in the last quarter. abrdn plc lifted its position in Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after buying an additional 1,644,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after buying an additional 1,618,211 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

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.