Tetra Tech (NASDAQ:TTEK) Price Target Increased to $230.00 by Analysts at Maxim Group

Tetra Tech (NASDAQ:TTEK) had its target price hoisted by Maxim Group from $220.00 to $230.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the industrial products company’s stock.

TTEK has been the subject of several other research reports. KeyCorp began coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an overweight rating and a $191.00 price target for the company. Royal Bank of Canada increased 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $209.80.

Tetra Tech Stock Performance

TTEK opened at $204.26 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $186.04 and its two-hundred day moving average price is $171.32. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $204.33. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 41.35 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 the consensus estimate of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.60%. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 earnings per share. On average, analysts expect that Tetra Tech will post 6.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 14,485 shares in the company, valued at $2,390,025. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 14,485 shares in the company, valued at $2,390,025. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian N. Carter sold 5,580 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,475,707.20. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock worth $5,487,673 over the last quarter. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp raised its stake in Tetra Tech by 10.7% in the third quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock valued at $4,077,000 after purchasing an additional 2,593 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Tetra Tech by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock worth $12,921,000 after acquiring an additional 205 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Tetra Tech by 2.5% during the fourth quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after acquiring an additional 8,394 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Tetra Tech by 95.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock worth $2,733,000 after acquiring an additional 8,791 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Tetra Tech during the fourth quarter worth approximately $82,209,000. 93.89% of the stock is owned by hedge funds and other 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.