Tetra Tech (NASDAQ:TTEK) Reaches New 1-Year High at $220.93

Tetra Tech, Inc. (NASDAQ:TTEK)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $220.93 and last traded at $220.39, with a volume of 8768 shares traded. The stock had previously closed at $218.55.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their price target on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. KeyCorp increased their target price on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday. Maxim Group increased their target price on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Finally, Northcoast Research raised 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 equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $236.60.

Tetra Tech Trading Down 1.9 %

The firm’s 50-day simple moving average is $196.26 and its 200-day simple moving average is $177.71. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $11.56 billion, a PE ratio of 43.75 and a beta of 0.93.

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

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a dividend of $0.29 per share. This is a positive change 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 0.54%. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s dividend payout ratio is currently 23.48%.

Institutional Trading of Tetra Tech

Institutional investors have recently modified their holdings of the company. Stifel Financial Corp boosted its holdings in shares of Tetra Tech by 10.7% during the third quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock worth $4,077,000 after purchasing an additional 2,593 shares during the period. Retirement Systems of Alabama boosted its holdings 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 purchasing an additional 205 shares during the period. WCM Investment Management LLC boosted its holdings 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 purchasing an additional 8,394 shares during the period. Jump Financial LLC boosted its holdings in shares of Tetra Tech by 743.1% during the fourth quarter. Jump Financial LLC now owns 22,232 shares of the industrial products company’s stock worth $3,711,000 after purchasing an additional 19,595 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Tetra Tech by 1,054.4% during the fourth quarter. Spire Wealth Management now owns 22,650 shares of the industrial products company’s stock worth $3,706,000 after purchasing an additional 20,688 shares during the period. 93.89% of the stock is currently 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.