BidaskClub Upgrades Tetra Tech (TTEK) to Sell

Tetra Tech (NASDAQ:TTEK) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday, BidAskClub reports.

Several other research firms have also issued reports on TTEK. Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Friday, February 8th. Roth Capital reduced their price objective on shares of Tetra Tech from $73.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, January 29th. ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Maxim Group reaffirmed a “buy” rating and set a $87.00 price objective on shares of Tetra Tech in a research report on Friday, January 11th. Finally, Sidoti began coverage on shares of Tetra Tech in a research report on Tuesday, April 9th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Tetra Tech has an average rating of “Buy” and a consensus target price of $72.83.

TTEK stock opened at $63.24 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.79. Tetra Tech has a 52 week low of $46.30 and a 52 week high of $72.56. The stock has a market capitalization of $3.49 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.08. Tetra Tech had a net margin of 4.55% and a return on equity of 16.02%. The business had revenue of $553.36 million for the quarter, compared to the consensus estimate of $558.46 million. During the same period in the prior year, the company posted $0.65 earnings per share. Tetra Tech’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Tetra Tech will post 2.96 EPS for the current year.

In related news, SVP Craig L. Christensen sold 3,925 shares of Tetra Tech stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $55.00, for a total value of $215,875.00. Following the completion of the sale, the senior vice president now owns 40,116 shares of the company’s stock, valued at approximately $2,206,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William R. Brownlie sold 16,750 shares of Tetra Tech stock in a transaction on Monday, April 1st. The shares were sold at an average price of $60.00, for a total transaction of $1,005,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 73,484 shares of company stock valued at $4,317,047. 3.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of TTEK. Bank of New York Mellon Corp grew its position in Tetra Tech by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 841,336 shares of the industrial products company’s stock valued at $57,464,000 after purchasing an additional 8,402 shares during the period. Tower Research Capital LLC TRC lifted its stake in Tetra Tech by 4,747.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 1,614 shares in the last quarter. Deutsche Bank AG lifted its stake in Tetra Tech by 10.1% during the 3rd quarter. Deutsche Bank AG now owns 352,504 shares of the industrial products company’s stock valued at $24,074,000 after acquiring an additional 32,296 shares in the last quarter. Jane Street Group LLC bought a new position in Tetra Tech during the 3rd quarter valued at $656,000. Finally, Paloma Partners Management Co bought a new position in Tetra Tech during the 3rd quarter valued at $575,000. 88.50% of the stock is owned by institutional investors and hedge funds.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG 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.

Recommended Story: What is Compound Interest?

Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit