Tetra Tech (NASDAQ:TTEK) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Several other analysts have also recently weighed in on TTEK. 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 Monday, November 19th. Zacks Investment Research reissued a “hold” rating on shares of Tetra Tech in a research note on Saturday, November 17th. Robert W. Baird boosted 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, Roth Capital boosted their price objective on shares of Tetra Tech from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $70.71.
Shares of NASDAQ:TTEK opened at $55.27 on Tuesday. The firm has a market cap of $3.37 billion, a PE ratio of 20.94, a P/E/G ratio of 1.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.70 and a quick ratio of 1.70. Tetra Tech has a 52-week low of $44.65 and a 52-week high of $72.56.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $563.67 million during the quarter, compared to the consensus estimate of $571.33 million. Tetra Tech had a net margin of 4.62% and a return on equity of 15.80%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. On average, sell-side analysts anticipate that Tetra Tech will post 2.88 EPS for the current year.
In other Tetra Tech news, SVP Craig L. Christensen sold 6,750 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $65.98, for a total transaction of $445,365.00. Following the sale, the senior vice president now owns 34,400 shares of the company’s stock, valued at $2,269,712. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirsten M. Volpi sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $66.94, for a total transaction of $80,328.00. Following the sale, the director now directly owns 8,801 shares in the company, valued at approximately $589,138.94. The disclosure for this sale can be found here. In the last three months, insiders sold 61,034 shares of company stock worth $3,958,744. 3.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its position in Tetra Tech by 303.8% during the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,215 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Tetra Tech by 4,747.1% during the third quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock valued at $113,000 after acquiring an additional 1,614 shares during the last quarter. Smithfield Trust Co. boosted its position in Tetra Tech by 70.1% during the third quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after acquiring an additional 940 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in Tetra Tech during the second quarter valued at $205,000. Finally, M Holdings Securities Inc. bought a new stake in Tetra Tech during the second quarter valued at $222,000. 84.55% of the stock is currently 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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