BidaskClub downgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a sell rating in a research note released on Wednesday morning.
Several other research firms also recently commented on TTEK. Zacks Investment Research upgraded Tetra Tech from a hold rating to a buy rating and set a $59.00 price objective on the stock in a report on Friday, February 2nd. Boenning Scattergood reiterated a buy rating and issued a $54.00 price objective on shares of Tetra Tech in a report on Thursday, November 9th. Canaccord Genuity reiterated a buy rating and issued a $60.00 price objective on shares of Tetra Tech in a report on Thursday, February 1st. Robert W. Baird lifted 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. Finally, ValuEngine downgraded Tetra Tech from a buy rating to a hold rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $54.57.
Shares of Tetra Tech (NASDAQ TTEK) opened at $48.25 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.25 and a current ratio of 2.25. Tetra Tech has a 52 week low of $38.85 and a 52 week high of $53.40. The stock has a market capitalization of $2,669.67, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The firm 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 14.26% and a net margin of 4.83%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. sell-side analysts forecast that Tetra Tech will post 2.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 14th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. Tetra Tech’s dividend payout ratio is presently 16.74%.
In related news, SVP William R. Brownlie sold 4,037 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $46.16, for a total transaction of $186,347.92. Following the transaction, the senior vice president now owns 82,226 shares in the company, valued at approximately $3,795,552.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Roger R. Argus sold 1,138 shares of the business’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 transaction, the senior vice president now owns 6,948 shares in the company, valued at approximately $344,829.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 199,566 shares of company stock worth $9,751,615. 3.40% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in TTEK. Millennium Management LLC increased its holdings in Tetra Tech by 833.1% during the 4th quarter. Millennium Management LLC now owns 236,558 shares of the industrial products company’s stock valued at $11,390,000 after purchasing an additional 211,205 shares during the period. Assenagon Asset Management S.A. purchased a new position in Tetra Tech during the 4th quarter valued at about $8,213,000. Amundi Pioneer Asset Management Inc. purchased a new position in Tetra Tech during the 4th quarter valued at about $7,546,000. Allianz Asset Management GmbH increased its holdings in Tetra Tech by 35.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after purchasing an additional 152,695 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Tetra Tech by 270.8% during the 2nd quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock valued at $8,833,000 after purchasing an additional 141,066 shares during the period. Institutional investors own 85.02% of the company’s stock.
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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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