Tetra Tech (NASDAQ:TTEK) Sets New 12-Month High on Analyst Upgrade

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price reached a new 52-week high on Tuesday after Maxim Group raised their price target on the stock from $220.00 to $230.00. Maxim Group currently has a buy rating on the stock. Tetra Tech traded as high as $196.13 and last traded at $195.89, with a volume of 48578 shares. The stock had previously closed at $193.20.

TTEK has been the subject of several other reports. Royal Bank of Canada boosted their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. KeyCorp assumed coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Transactions at Tetra Tech

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

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently bought and sold shares of TTEK. Asset Management One Co. Ltd. lifted its position in Tetra Tech by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 31,695 shares of the industrial products company’s stock worth $4,819,000 after buying an additional 180 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Tetra Tech by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,046 shares of the industrial products company’s stock valued at $767,000 after buying an additional 290 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Tetra Tech by 7.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the industrial products company’s stock worth $282,000 after buying an additional 134 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Tetra Tech by 13.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 35,971 shares of the industrial products company’s stock worth $5,469,000 after buying an additional 4,149 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of Tetra Tech by 29.3% during the 3rd quarter. Raymond James & Associates now owns 34,158 shares of the industrial products company’s stock valued at $5,193,000 after buying an additional 7,744 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Stock Down 1.1 %

The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average of $185.52 and a 200 day moving average of $171.09.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.29 by $0.13. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The company’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 EPS. As a group, equities analysts predict that Tetra Tech, Inc. will post 6.07 earnings per share for the current year.

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.