Tetra Tech, Inc. (NASDAQ:TTEK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Tetra Tech, Inc. (NASDAQ:TTEKGet Free Report) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $236.60.

TTEK has been the topic of several recent analyst reports. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada upped their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird upped their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Wednesday, May 15th. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, May 2nd. Finally, Maxim Group upped their price objective on shares of Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th.

Check Out Our Latest Analysis on Tetra Tech

Tetra Tech Stock Up 0.7 %

Shares of NASDAQ TTEK opened at $209.21 on Friday. Tetra Tech has a 12-month low of $143.35 and a 12-month high of $221.40. The company has a market capitalization of $11.19 billion, a PE ratio of 42.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50-day moving average is $205.40 and its two-hundred day moving average is $184.55.

Tetra Tech (NASDAQ:TTEKGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. Equities analysts anticipate that Tetra Tech will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, May 17th. This represents a $1.16 dividend on an annualized basis and a yield of 0.55%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the transaction, the executive vice president now owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently made changes to their positions in the business. Cetera Advisors LLC acquired a new stake in shares of Tetra Tech in the first quarter worth $208,000. Cetera Investment Advisers increased its position in shares of Tetra Tech by 90.8% in the first quarter. Cetera Investment Advisers now owns 8,605 shares of the industrial products company’s stock worth $1,589,000 after acquiring an additional 4,096 shares in the last quarter. Strategic Wealth Partners Ltd. increased its position in shares of Tetra Tech by 10.7% in the first quarter. Strategic Wealth Partners Ltd. now owns 7,806 shares of the industrial products company’s stock worth $1,442,000 after acquiring an additional 754 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in Tetra Tech by 3.5% during the 1st quarter. iA Global Asset Management Inc. now owns 3,518 shares of the industrial products company’s stock valued at $650,000 after purchasing an additional 119 shares in the last quarter. Finally, Vancity Investment Management Ltd grew its holdings in Tetra Tech by 33.1% during the 1st quarter. Vancity Investment Management Ltd now owns 6,627 shares of the industrial products company’s stock valued at $1,224,000 after purchasing an additional 1,649 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

About Tetra Tech

(Get Free Report

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.

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Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

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