Tetra Tech (NASDAQ:TTEK) Hits New 1-Year Low – Here’s Why

Tetra Tech, Inc. (NASDAQ:TTEK) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $30.91 and last traded at $30.97, with a volume of 1261672 shares traded. The stock had previously closed at $31.45.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. KeyCorp lowered their price target on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Finally, StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Trading Down 0.6 %

The stock has a market cap of $8.20 billion, a PE ratio of 32.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29. The company has a 50 day moving average of $38.92 and a two-hundred day moving average of $43.63.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $0.058 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.76%. Tetra Tech’s dividend payout ratio (DPR) is 24.16%.

Insider Transactions at Tetra Tech

In other news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTEK. Oregon Public Employees Retirement Fund grew its holdings in shares of Tetra Tech by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock worth $2,172,000 after buying an additional 400 shares in the last quarter. Nordea Investment Management AB grew its stake in Tetra Tech by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock valued at $1,809,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Tetra Tech by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 438 shares during the last quarter. LGT Financial Advisors LLC lifted its stake in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Tetra Tech by 13.0% during the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 461 shares during the last quarter. Hedge funds and other 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.