Boenning Scattergood reissued their buy rating on shares of Tetra Tech (NASDAQ:TTEK) in a report issued on Thursday, March 15th. The brokerage currently has a $65.00 price objective on the industrial products company’s stock. Boenning Scattergood also issued estimates for Tetra Tech’s Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $0.67 EPS and Q3 2019 earnings at $0.69 EPS.
Several other equities research analysts also recently issued reports on the company. BidaskClub downgraded Tetra Tech from a strong-buy rating to a buy rating in a report on Saturday, December 9th. ValuEngine downgraded Tetra Tech from a buy rating to a hold rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded Tetra Tech from a hold rating to a buy rating and set a $59.00 price objective for the company in a report on Friday, February 2nd. Finally, Canaccord Genuity reiterated a buy rating and set a $60.00 price objective on shares of Tetra Tech in a report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $57.00.
NASDAQ TTEK traded down $1.05 on Thursday, reaching $49.15. The company had a trading volume of 170,907 shares, compared to its average volume of 233,769. The company has a market capitalization of $2,745.08, a PE ratio of 23.08, a P/E/G ratio of 1.46 and a beta of 0.97. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.46. Tetra Tech has a 52 week low of $39.95 and a 52 week high of $53.40.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. Tetra Tech had a return on equity of 14.26% and a net margin of 4.83%. The company had revenue of $544.85 million during the quarter, compared to the consensus estimate of $510.22 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. sell-side analysts predict that Tetra Tech will post 2.49 earnings per share for the current fiscal year.
In other news, SVP William R. Brownlie sold 12,713 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $50.36, for a total value of $640,226.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Dan L. Batrack sold 68,270 shares of Tetra Tech stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $51.62, for a total value of $3,524,097.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,331 shares of company stock valued at $8,343,340. Insiders own 3.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new stake in Tetra Tech during the 3rd quarter worth approximately $330,000. Wells Fargo & Company MN lifted 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tetra Tech by 50.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock worth $147,000 after purchasing an additional 1,019 shares during the last quarter. American International Group Inc. lifted its holdings in Tetra Tech by 5.6% during the 3rd quarter. American International Group Inc. now owns 45,220 shares of the industrial products company’s stock worth $2,105,000 after purchasing an additional 2,390 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Tetra Tech by 28.9% during the 4th quarter. Deutsche Bank AG now owns 437,152 shares of the industrial products company’s stock worth $21,045,000 after purchasing an additional 98,088 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
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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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