KeyCorp Increases Tetra Tech (NASDAQ:TTEK) Price Target to $219.00

Tetra Tech (NASDAQ:TTEK) had its price objective lifted by KeyCorp from $209.00 to $219.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on TTEK. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an outperform rating in a report on Friday. Maxim Group boosted their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Robert W. Baird boosted their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a report on Thursday, May 2nd. Finally, Northcoast Research raised shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $221.40.

Tetra Tech Trading Up 2.1 %

Shares of Tetra Tech stock opened at $212.12 on Friday. Tetra Tech has a 1 year low of $132.29 and a 1 year high of $215.44. The firm has a market cap of $11.35 billion, a PE ratio of 42.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. The company has a 50 day simple moving average of $187.34 and a two-hundred day simple moving average of $172.11.

Tetra Tech (NASDAQ:TTEK) last announced its 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. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. Tetra Tech’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 earnings per share. Analysts expect that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.55%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s payout ratio is presently 21.05%.

Insider Buying and Selling

In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly 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 valued at $2,925,482 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of Tetra Tech

Hedge funds have recently modified their holdings of the business. Stifel Financial Corp boosted its holdings in shares of Tetra Tech by 10.7% during the 3rd quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock valued at $4,077,000 after buying an additional 2,593 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Tetra Tech by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock worth $12,921,000 after purchasing an additional 205 shares in the last quarter. WCM Investment Management LLC boosted its stake in Tetra Tech by 2.5% in the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after purchasing an additional 8,394 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Tetra Tech by 95.7% in the 3rd 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 purchasing an additional 8,791 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in Tetra Tech in the 4th quarter worth about $82,209,000. 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.