Tetra Tech (NASDAQ:TTEK) Raised to Buy at Northcoast Research

Northcoast Research upgraded shares of Tetra Tech (NASDAQ:TTEK) from a neutral rating to a buy rating in a research report report published on Thursday, Marketbeat Ratings reports. Northcoast Research currently has $225.00 price target on the industrial products company’s stock.

TTEK has been the subject of several other research reports. Royal Bank of Canada raised their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Maxim Group boosted their target price on Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Robert W. Baird increased their price target on Tetra Tech from $180.00 to $200.00 and gave the company a neutral rating in a research report on Thursday. Finally, KeyCorp began coverage on Tetra Tech in a research report on Wednesday, January 10th. They set an overweight rating and a $191.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Stock Up 1.7 %

NASDAQ:TTEK opened at $207.75 on Thursday. Tetra Tech has a 52 week low of $132.29 and a 52 week high of $208.76. 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 stock’s fifty day moving average is $186.65 and its two-hundred day moving average is $171.74. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period last year, the business posted $1.17 EPS. Research analysts anticipate that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.29 dividend. This is a boost 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 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio is presently 21.05%.

Insider Buying and Selling

In related news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at $5,250,776.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $984,981.60. Following the completion of the transaction, the senior vice president now owns 8,360 shares in the company, valued at $1,475,707.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,595 shares of company stock worth $2,925,482 in the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. acquired a new stake in shares of Tetra Tech in the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new stake in Tetra Tech in the first quarter valued at approximately $27,000. Jones Financial Companies Lllp bought a new stake in Tetra Tech in the fourth quarter worth $33,000. Principal Securities Inc. bought a new position in shares of Tetra Tech in the 4th quarter valued at approximately $36,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Tetra Tech in the third quarter worth $37,000. Institutional investors own 93.89% of the company’s stock.

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.