Tetra Tech, Inc. (NASDAQ:TTEK) was down 6.4% during trading on Tuesday . The company traded as low as $55.16 and last traded at $55.27. Approximately 515,020 shares were traded during trading, an increase of 102% from the average daily volume of 255,457 shares. The stock had previously closed at $59.04.
A number of equities research analysts have recently commented on TTEK shares. Maxim Group set a $87.00 price objective on shares of Tetra Tech and gave the stock a “buy” rating in a research note on Thursday, November 8th. BidaskClub raised shares of Tetra Tech from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 8th. Robert W. Baird raised their price objective on shares of Tetra Tech from $63.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, November 8th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Tetra Tech in a research note on Saturday, November 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $70.71.
The company has a market cap of $3.37 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.27.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Tetra Tech had a net margin of 4.62% and a return on equity of 15.80%. The firm had revenue of $563.67 million for the quarter, compared to analysts’ expectations of $571.33 million. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Tetra Tech, Inc. will post 2.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. Tetra Tech’s dividend payout ratio is currently 18.18%.
In other Tetra Tech news, SVP Brian N. Carter sold 8,215 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $62.28, for a total value of $511,630.20. Following the transaction, the senior vice president now owns 7,430 shares in the company, valued at approximately $462,740.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirsten M. Volpi sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total value of $80,328.00. Following the completion of the transaction, the director now owns 8,801 shares in the company, valued at approximately $589,138.94. The disclosure for this sale can be found here. Insiders sold a total of 61,034 shares of company stock worth $3,958,744 in the last three months. 3.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. American International Group Inc. lifted its holdings in Tetra Tech by 1.8% in the 3rd quarter. American International Group Inc. now owns 43,524 shares of the industrial products company’s stock valued at $2,973,000 after purchasing an additional 789 shares in the last quarter. Strs Ohio lifted its holdings in Tetra Tech by 23.7% in the 2nd quarter. Strs Ohio now owns 4,700 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 900 shares in the last quarter. Smithfield Trust Co. raised its holdings in shares of Tetra Tech by 70.1% during the 3rd quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock worth $156,000 after acquiring an additional 940 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Tetra Tech by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,070 shares of the industrial products company’s stock worth $414,000 after acquiring an additional 971 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Tetra Tech by 14.4% during the 3rd quarter. Fisher Asset Management LLC now owns 8,365 shares of the industrial products company’s stock worth $571,000 after acquiring an additional 1,050 shares during the period. Institutional investors own 84.55% of the company’s stock.
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About Tetra Tech (NASDAQ:TTEK)
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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