Tetra Tech (NASDAQ:TTEK) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Tetra Tech (NASDAQ:TTEK – Get Rating) in a report published on Thursday. The firm issued a buy rating on the industrial products company’s stock.

Separately, Robert W. Baird raised their target price on shares of Tetra Tech from $155.00 to $164.00 and gave the company a neutral rating in a research note on Thursday, February 2nd.

Tetra Tech Trading Down 0.7 %

Shares of Tetra Tech stock opened at $139.14 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 23.99 and a beta of 0.96. The firm’s 50-day moving average price is $145.08 and its two-hundred day moving average price is $142.73. Tetra Tech has a 12-month low of $118.55 and a 12-month high of $169.95.

Tetra Tech (NASDAQ:TTEK – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.14. Tetra Tech had a return on equity of 20.20% and a net margin of 8.79%. The company had revenue of $736.56 million during the quarter, compared to the consensus estimate of $717.73 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that Tetra Tech will post 5.01 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Monday, February 13th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.66%. Tetra Tech’s dividend payout ratio is presently 15.86%.

Insiders Place Their Bets

In other news, Director Kirsten M. Volpi sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $145.74, for a total value of $131,166.00. Following the completion of the transaction, the director now owns 11,563 shares in the company, valued at approximately $1,685,191.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Kimberly E. Ritrievi sold 1,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $151.09, for a total value of $271,962.00. Following the sale, the director now owns 29,940 shares in the company, valued at $4,523,634.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kirsten M. Volpi sold 900 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $145.74, for a total transaction of $131,166.00. Following the completion of the transaction, the director now owns 11,563 shares in the company, valued at approximately $1,685,191.62. The disclosure for this sale can be found here. Insiders sold 13,215 shares of company stock worth $1,992,786 over the last three months. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Tetra Tech by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 5,303,607 shares of the industrial products company’s stock worth $874,777,000 after buying an additional 61,906 shares in the last quarter. Pictet Asset Management SA grew its holdings in Tetra Tech by 2.3% during the 3rd quarter. Pictet Asset Management SA now owns 2,637,863 shares of the industrial products company’s stock worth $339,044,000 after acquiring an additional 60,405 shares in the last quarter. State Street Corp raised its holdings in shares of Tetra Tech by 1.9% in the 1st quarter. State Street Corp now owns 1,707,196 shares of the industrial products company’s stock valued at $281,585,000 after purchasing an additional 31,942 shares in the last quarter. Invesco Ltd. raised its stake in Tetra Tech by 7.5% in the first quarter. Invesco Ltd. now owns 917,617 shares of the industrial products company’s stock worth $151,353,000 after buying an additional 64,168 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Tetra Tech in the 4th quarter worth $132,468,000. 85.28% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Company Profile

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Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.