Tetra Tech (TTEK) Trading 6.6% Higher Following Strong Earnings

Tetra Tech, Inc. (NASDAQ:TTEK) shares traded up 6.6% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $53.40 and last traded at $53.00. 579,176 shares were traded during trading, an increase of 161% from the average session volume of 221,531 shares. The stock had previously closed at $49.70.

The industrial products company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.12. The company had revenue of $544.85 million for the quarter, compared to the consensus estimate of $510.22 million. Tetra Tech had a return on equity of 13.60% and a net margin of 4.28%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Wednesday, February 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Tetra Tech’s dividend payout ratio (DPR) is 19.61%.

A number of equities analysts have recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $60.00 price objective on shares of Tetra Tech in a report on Thursday. Zacks Investment Research downgraded Tetra Tech from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Boenning Scattergood restated a “buy” rating and issued a $54.00 price objective on shares of Tetra Tech in a report on Thursday, November 9th. Finally, Robert W. Baird raised their price objective on Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tetra Tech has an average rating of “Hold” and an average price target of $53.43.

In related news, EVP Ronald J. Chu sold 42,395 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $50.00, for a total transaction of $2,119,750.00. Following the sale, the executive vice president now directly owns 58,624 shares in the company, valued at approximately $2,931,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Roger R. Argus sold 1,138 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $49.63, for a total value of $56,478.94. Following the sale, the senior vice president now owns 6,948 shares in the company, valued at $344,829.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,211 shares of company stock worth $10,645,510. Company insiders own 3.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Rathbone Brothers plc raised its holdings in shares of Tetra Tech by 3.2% during the 3rd quarter. Rathbone Brothers plc now owns 33,395 shares of the industrial products company’s stock valued at $1,555,000 after buying an additional 1,050 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Tetra Tech during the 3rd quarter worth approximately $774,000. Koch Industries Inc. purchased a new stake in Tetra Tech during the 2nd quarter worth approximately $506,000. Wells Fargo & Company MN increased its holdings in Tetra Tech by 76.4% during the 3rd quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock worth $14,825,000 after purchasing an additional 137,887 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Tetra Tech during the 3rd quarter worth approximately $330,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a market cap of $2,960.00, a price-to-earnings ratio of 26.03, a PEG ratio of 1.58 and a beta of 1.07.

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About Tetra Tech

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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