BidaskClub upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research note published on Tuesday.
A number of other research analysts have also recently weighed in on TTEK. ValuEngine raised shares of Tetra Tech from a hold rating to a buy rating in a report on Tuesday, May 8th. Boenning Scattergood reaffirmed a buy rating and issued a $65.00 price objective on shares of Tetra Tech in a report on Thursday, March 15th. Stifel Nicolaus lifted their price objective on shares of Tetra Tech from $52.00 to $53.00 and gave the company a hold rating in a report on Monday, April 2nd. Canaccord Genuity reissued a buy rating and set a $60.00 target price on shares of Tetra Tech in a research note on Thursday, February 1st. Finally, Zacks Investment Research cut shares of Tetra Tech from a strong-buy rating to a hold rating in a research note on Tuesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Tetra Tech presently has an average rating of Buy and a consensus price target of $56.83.
Tetra Tech opened at $53.85 on Tuesday, according to Marketbeat. Tetra Tech has a fifty-two week low of $39.95 and a fifty-two week high of $54.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.56 and a beta of 1.00.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Tetra Tech had a net margin of 4.83% and a return on equity of 14.38%. The company had revenue of $532.79 million during the quarter, compared to analysts’ expectations of $509.14 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. equities analysts anticipate that Tetra Tech will post 2.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Wednesday, May 16th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.10. Tetra Tech’s payout ratio is currently 22.54%.
In other news, Chairman Dan L. Batrack sold 68,270 shares of the business’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $51.62, for a total transaction of $3,524,097.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard A. Lemmon sold 15,089 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $51.09, for a total transaction of $770,897.01. Following the sale, the senior vice president now directly owns 51,785 shares of the company’s stock, valued at approximately $2,645,695.65. The disclosure for this sale can be found here. Insiders have sold 118,520 shares of company stock valued at $6,079,361 in the last three months. Corporate insiders own 3.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tetra Tech by 50.1% during the fourth 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 in the last quarter. Deutsche Bank AG boosted its position in Tetra Tech by 28.9% during the fourth quarter. Deutsche Bank AG now owns 437,152 shares of the industrial products company’s stock worth $21,045,000 after acquiring an additional 98,088 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Tetra Tech by 54.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 172,344 shares of the industrial products company’s stock worth $8,298,000 after acquiring an additional 60,787 shares during the last quarter. Wells Fargo & Company MN boosted its position in Tetra Tech by 12.3% during the fourth quarter. Wells Fargo & Company MN now owns 357,520 shares of the industrial products company’s stock worth $17,214,000 after acquiring an additional 39,037 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Tetra Tech by 10.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 80,861 shares of the industrial products company’s stock worth $3,893,000 after acquiring an additional 7,361 shares during the last quarter. 85.17% of the stock is owned by institutional investors and hedge funds.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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