Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) PT at $236.00

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $236.00.

Several equities research analysts recently weighed in on the company. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a report on Thursday, May 2nd. Maxim Group lifted their target price on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. KeyCorp boosted their price target on Tetra Tech from $219.00 to $231.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Robert W. Baird upped their target price on Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th.

Tetra Tech Price Performance

Shares of TTEK opened at $220.40 on Monday. Tetra Tech has a 52-week low of $132.29 and a 52-week high of $221.40. The firm has a market capitalization of $11.79 billion, a PE ratio of 44.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day simple moving average of $195.53 and a 200 day simple moving average of $177.44.

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 analysts’ consensus estimates of $1.29 by $0.13. The company 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 21.16% and a net margin of 5.36%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. Sell-side analysts predict that Tetra Tech will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a dividend of $0.29 per share. The ex-dividend date 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 yield of 0.53%. Tetra Tech’s payout ratio is presently 23.48%.

Institutional Trading of Tetra Tech

Several large investors have recently modified their holdings of TTEK. Strategic Wealth Partners Ltd. raised its holdings 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 valued at $1,442,000 after purchasing an additional 754 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in Tetra Tech by 3.5% in 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 buying an additional 119 shares during the last quarter. Vancity Investment Management Ltd grew its position in shares of 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 worth $1,224,000 after buying an additional 1,649 shares during the period. Aristides Capital LLC bought a new position in shares of Tetra Tech in the 1st quarter worth $261,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tetra Tech by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,613 shares of the industrial products company’s stock valued at $5,286,000 after acquiring an additional 2,096 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

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.