Tetra Tech (NASDAQ:TTEK) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a report published on Friday.

Several other brokerages also recently weighed in on TTEK. Robert W. Baird increased their price target on Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a report on Thursday. KeyCorp increased their target price on Tetra Tech from $209.00 to $219.00 and gave the stock an overweight rating in a research note on Friday. Maxim Group lifted their target price on Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a research report on Tuesday. Northcoast Research upgraded shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 price target on the stock in a report on Thursday. Finally, Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $221.40.

Tetra Tech Trading Up 1.7 %

TTEK stock opened at $207.75 on Friday. Tetra Tech has a twelve month low of $132.29 and a twelve month high of $208.76. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $186.65 and its two-hundred day simple moving average is $171.64.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $1.17 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, analysts anticipate that Tetra Tech will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.29 per share. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio is presently 21.05%.

Insider Activity at Tetra Tech

In other news, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the sale, the director now owns 14,485 shares in the company, valued at approximately $2,390,025. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Brian N. Carter sold 5,580 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares in the company, valued at approximately $2,390,025. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock worth $5,487,673 over the last three months. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of Tetra Tech

A number of institutional investors have recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new stake in Tetra Tech in the fourth quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of Tetra Tech during the first quarter valued at about $27,000. Jones Financial Companies Lllp purchased a new position in shares of Tetra Tech in the 4th quarter valued at approximately $33,000. Principal Securities Inc. acquired a new stake in Tetra Tech in the 4th quarter worth approximately $36,000. Finally, Millburn Ridgefield Corp purchased a new stake in Tetra Tech during the 3rd quarter worth approximately $37,000. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.