Tetra Tech (TTEK) – Investment Analysts’ Recent Ratings Changes

Tetra Tech (NASDAQ: TTEK) has recently received a number of price target changes and ratings updates:

• 5/23/2024 – Tetra Tech had its price target raised by analysts at KeyCorp from $231.00 to $234.00. They now have an “overweight” rating on the stock.
• 5/16/2024 – Tetra Tech had its price target raised by analysts at Maxim Group from $234.00 to $268.00. They now have a “buy” rating on the stock.
• 5/15/2024 – Tetra Tech had its price target raised by analysts at KeyCorp from $219.00 to $231.00. They now have an “overweight” rating on the stock.
• 5/15/2024 – Tetra Tech had its price target raised by analysts at Robert W. Baird from $200.00 to $223.00. They now have a “neutral” rating on the stock.
• 5/14/2024 – Tetra Tech was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/3/2024 – Tetra Tech had its price target raised by analysts at KeyCorp from $209.00 to $219.00. They now have an “overweight” rating on the stock.
• 5/3/2024 – Tetra Tech had its price target raised by analysts at Royal Bank of Canada from $203.00 to $233.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Tetra Tech was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 5/2/2024 – Tetra Tech had its price target raised by analysts at Robert W. Baird from $180.00 to $200.00. They now have a “neutral” rating on the stock.
• 5/2/2024 – Tetra Tech was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating. They now have a $225.00 price target on the stock.
• 4/30/2024 – Tetra Tech had its price target raised by analysts at Maxim Group from $220.00 to $230.00. They now have a “buy” rating on the stock.

Tetra Tech Stock Down 1.9 %

TTEK opened at $216.12 on Friday. 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 stock has a market cap of $11.56 billion, a price-to-earnings ratio of 43.75 and a beta of 0.93. Tetra Tech, Inc. has a twelve month low of $132.29 and a twelve month high of $221.40. The company’s 50-day moving average price is $196.26 and its two-hundred day moving average price is $177.71.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. As a group, equities analysts expect that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.16 annualized dividend and a dividend yield of 0.54%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s payout ratio is 23.48%.

Institutional Trading of Tetra Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tetra Tech by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after buying an additional 14,701 shares during the last quarter. Sarasin & Partners LLP boosted its position in Tetra Tech by 2.6% during the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after buying an additional 32,053 shares during the period. Invesco Ltd. boosted its position in Tetra Tech by 6.2% during the 3rd quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock valued at $133,731,000 after buying an additional 51,139 shares during the period. Norges Bank purchased a new stake in Tetra Tech during the 4th quarter valued at $96,655,000. Finally, Vontobel Holding Ltd. boosted its position in Tetra Tech by 2.8% during the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock valued at $89,072,000 after buying an additional 14,334 shares during the period. Institutional investors own 93.89% of the company’s stock.

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.