Tetra Tech (NASDAQ:TTEK) Lifted to Buy at Northcoast Research

Tetra Tech (NASDAQ:TTEK) was upgraded by Northcoast Research from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a $225.00 price objective on the industrial products company’s stock. Northcoast Research’s price objective would indicate a potential upside of 12.11% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Maxim Group lifted their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday. KeyCorp started coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Robert W. Baird upped their target price on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Royal Bank of Canada raised their price target on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.80.

Tetra Tech Stock Performance

TTEK traded up $8.20 during trading on Thursday, hitting $200.69. The stock had a trading volume of 250,732 shares, compared to its average volume of 265,127. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The company has a 50 day moving average price of $185.52 and a 200-day moving average price of $171.09. Tetra Tech has a one year low of $132.29 and a one year high of $203.16. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 46.13 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. Tetra Tech’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, research analysts predict that Tetra Tech will post 6.07 EPS for the current year.

Insider Transactions at Tetra Tech

In related news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the sale, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the sale, the chief financial officer now owns 29,890 shares in the company, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,123 shares of company stock valued at $5,487,673. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in Tetra Tech in the 4th quarter valued at approximately $96,655,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Tetra Tech in the fourth quarter worth $82,209,000. International Assets Investment Management LLC increased its holdings in Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after purchasing an additional 219,742 shares during the period. Sarasin & Partners LLP raised its position in Tetra Tech by 18.3% during the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after purchasing an additional 189,049 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new position in Tetra Tech during the 3rd quarter worth about $23,934,000. 93.89% of the stock is owned by institutional investors and hedge funds.

About Tetra Tech

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.