Tetra Tech, Inc. (NASDAQ:TTEK) Chairman Dan L. Batrack sold 68,270 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $51.62, for a total value of $3,524,097.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of TTEK traded down $1.05 during mid-day trading on Friday, hitting $49.15. 170,907 shares of the stock were exchanged, compared to its average volume of 233,769. The stock has a market capitalization of $2,745.08, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97. Tetra Tech, Inc. has a 52-week low of $39.95 and a 52-week high of $53.40. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.25 and a quick ratio of 2.25.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $544.85 million for the quarter, compared to analysts’ expectations of $510.22 million. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. sell-side analysts expect that Tetra Tech, Inc. will post 2.49 earnings per share for the current year.
TTEK has been the topic of a number of research analyst reports. Boenning Scattergood reissued a “buy” rating and issued a $65.00 price target on shares of Tetra Tech in a report on Thursday, March 15th. ValuEngine raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Friday, February 2nd. Canaccord Genuity reissued a “buy” rating and issued a $60.00 price target on shares of Tetra Tech in a report on Thursday, February 1st. Finally, BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Tetra Tech has a consensus rating of “Buy” and a consensus price target of $57.00.
Several institutional investors and hedge funds have recently modified their holdings of TTEK. Millennium Management LLC raised its holdings in shares of Tetra Tech by 833.1% during the 4th quarter. Millennium Management LLC now owns 236,558 shares of the industrial products company’s stock worth $11,390,000 after acquiring an additional 211,205 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $8,213,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Tetra Tech during the 4th quarter valued at approximately $7,546,000. Allianz Asset Management GmbH increased its position in shares of 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 last quarter. Finally, Wells Fargo & Company MN increased its position in shares of 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 valued at $14,825,000 after purchasing an additional 137,887 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.
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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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