Tetra Tech, Inc. (NASDAQ:TTEK) has received an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.57.
A number of equities analysts have weighed in on the company. Sidoti restated a “buy” rating and issued a $58.00 price target (up previously from $55.00) on shares of Tetra Tech in a report on Sunday, May 14th. Zacks Investment Research cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Roth Capital set a $52.00 price target on Tetra Tech and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $52.00 price target on shares of Tetra Tech in a report on Wednesday, June 7th.
Shares of Tetra Tech (NASDAQ:TTEK) opened at 41.80 on Monday. The stock has a 50 day moving average of $45.50 and a 200-day moving average of $43.58. The company has a market capitalization of $2.36 billion, a P/E ratio of 21.19 and a beta of 1.03. Tetra Tech has a 12-month low of $33.55 and a 12-month high of $48.35.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $498.47 million during the quarter, compared to analysts’ expectations of $535.18 million. Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. Equities research analysts forecast that Tetra Tech will post $2.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, August 17th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.96%. The ex-dividend date is Tuesday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is presently 20.30%.
In related news, CFO Steven M. Burdick sold 16,750 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $44.87, for a total transaction of $751,572.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock valued at $332,349,000 after buying an additional 8,068,959 shares during the period. KAMES CAPITAL plc boosted its position in shares of Tetra Tech by 1,862.0% in the first quarter. KAMES CAPITAL plc now owns 1,049,075 shares of the industrial products company’s stock valued at $42,855,000 after buying an additional 995,604 shares during the period. RidgeWorth Capital Management LLC raised its stake in shares of Tetra Tech by 32.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,398,176 shares of the industrial products company’s stock valued at $57,115,000 after buying an additional 343,222 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock valued at $212,946,000 after buying an additional 302,821 shares in the last quarter. Finally, Emerald Advisers Inc. PA raised its stake in shares of Tetra Tech by 79.7% in the first quarter. Emerald Advisers Inc. PA now owns 653,361 shares of the industrial products company’s stock valued at $26,690,000 after buying an additional 289,780 shares in the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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