Brokerages Set Tetra Tech, Inc. (TTEK) Target Price at $70.17

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $70.17.

Several research firms have commented on TTEK. BidaskClub upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. Robert W. Baird raised their price objective on Tetra Tech from $63.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, November 8th. Maxim Group set a $87.00 price objective on Tetra Tech and gave the stock a “buy” rating in a report on Thursday, November 8th. Roth Capital raised their price objective on Tetra Tech from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Finally, Zacks Investment Research upgraded Tetra Tech from a “sell” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Monday, August 6th.

Shares of TTEK stock traded down $1.73 on Thursday, reaching $57.31. 161,777 shares of the company’s stock were exchanged, compared to its average volume of 318,863. Tetra Tech has a 52 week low of $44.65 and a 52 week high of $72.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market capitalization of $3.37 billion, a P/E ratio of 21.71, a P/E/G ratio of 1.51 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The firm had revenue of $563.67 million during the quarter, compared to analyst estimates of $571.33 million. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. Tetra Tech’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, sell-side analysts forecast that Tetra Tech will post 2.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.48 annualized dividend and a yield of 0.84%. Tetra Tech’s payout ratio is currently 18.18%.

In other news, SVP Brian N. Carter sold 8,215 shares of Tetra Tech stock in a transaction on Monday, November 26th. The stock was sold at an average price of $62.28, for a total value of $511,630.20. Following the transaction, the senior vice president now directly owns 7,430 shares in the company, valued at approximately $462,740.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Craig L. Christensen sold 6,750 shares of Tetra Tech stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $65.98, for a total value of $445,365.00. Following the completion of the transaction, the senior vice president now owns 34,400 shares in the company, valued at $2,269,712. The disclosure for this sale can be found here. Insiders have sold a total of 61,034 shares of company stock worth $3,958,744 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in TTEK. Steward Partners Investment Advisory LLC increased its holdings in shares of Tetra Tech by 303.8% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,215 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Tetra Tech by 4,747.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 1,614 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Tetra Tech by 80.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock worth $124,000 after purchasing an additional 2,000 shares in the last quarter. Smithfield Trust Co. boosted its position in shares of Tetra Tech by 70.1% in the 3rd quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock worth $156,000 after purchasing an additional 940 shares in the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Tetra Tech in the 2nd quarter worth $205,000. Institutional investors and hedge funds own 84.55% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

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