Tetra Tech (NASDAQ:TTEK) Price Target Raised to $233.00 at Royal Bank of Canada

Tetra Tech (NASDAQ:TTEK) had its price target hoisted by Royal Bank of Canada from $203.00 to $233.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

A number of other brokerages have also issued reports on TTEK. Maxim Group boosted their target price on shares of Tetra Tech from $220.00 to $230.00 and gave the company a buy rating in a research note on Tuesday, April 30th. KeyCorp assumed coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They set an overweight rating and a $191.00 price target for the company. Robert W. Baird increased their price objective on Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Finally, Northcoast Research raised Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $221.40.

Tetra Tech Trading Up 2.1 %

Shares of TTEK 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 company has a 50 day simple moving average of $187.34 and a two-hundred day simple moving average of $172.11. 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 firm has a market cap of $11.35 billion, a P/E ratio of 42.94 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. Tetra Tech’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, equities analysts expect that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.55%. Tetra Tech’s dividend payout ratio (DPR) is currently 21.05%.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now directly owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the transaction, the director now directly owns 10,985 shares of the company’s stock, valued at $1,946,981.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $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 quarter. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

Large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its position 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 acquiring an additional 290 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in 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 valued at $282,000 after acquiring an additional 134 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Tetra Tech by 13.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 35,971 shares of the industrial products company’s stock worth $5,469,000 after acquiring an additional 4,149 shares during the period. Raymond James & Associates increased its stake in shares of Tetra Tech by 29.3% in the third quarter. Raymond James & Associates now owns 34,158 shares of the industrial products company’s stock worth $5,193,000 after acquiring an additional 7,744 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Tetra Tech by 7.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 22,558 shares of the industrial products company’s stock worth $3,429,000 after purchasing an additional 1,566 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

About Tetra Tech

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.