Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.88.
A number of research analysts have recently commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $50.00 target price on shares of Tetra Tech in a research report on Thursday, March 23rd. BidaskClub downgraded Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Sidoti reiterated a “buy” rating and set a $58.00 target price (up from $55.00) on shares of Tetra Tech in a research report on Sunday, May 14th. Finally, Zacks Investment Research downgraded Tetra Tech from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th.
Shares of Tetra Tech (TTEK) traded up 1.10% during midday trading on Tuesday, reaching $45.80. 2,043,796 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $45.70 and its 200 day moving average price is $42.89. The firm has a market capitalization of $2.62 billion, a PE ratio of 24.17 and a beta of 1.02. Tetra Tech has a one year low of $29.12 and a one year high of $47.75.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. Tetra Tech had a net margin of 4.04% and a return on equity of 13.70%. The business had revenue of $511.95 million during the quarter, compared to analyst estimates of $491.60 million. During the same period last year, the firm posted $0.37 EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Tetra Tech will post $2.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Thursday, May 18th were given a dividend of $0.10 per share. This is an increase from Tetra Tech’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, May 16th. Tetra Tech’s dividend payout ratio is currently 21.16%.
In related news, SVP Brian N. Carter sold 3,396 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $46.20, for a total value of $156,895.20. Following the completion of the sale, the senior vice president now directly owns 7,243 shares in the company, valued at $334,626.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard A. Lemmon sold 16,750 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $46.30, for a total value of $775,525.00. The disclosure for this sale can be found here. Insiders have sold a total of 362,464 shares of company stock valued at $16,528,179 over the last quarter. Corporate insiders own 3.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of TTEK. Tyers Asset Management LLC bought a new stake in shares of Tetra Tech during the fourth quarter worth about $146,000. Flinton Capital Management LLC bought a new stake in shares of Tetra Tech during the fourth quarter worth about $178,000. Victory Capital Management Inc. bought a new stake in shares of Tetra Tech during the first quarter worth about $185,000. LS Investment Advisors LLC increased its stake in shares of Tetra Tech by 117.6% in the first quarter. LS Investment Advisors LLC now owns 4,872 shares of the industrial products company’s stock worth $199,000 after buying an additional 2,633 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Tetra Tech by 69.9% in the first quarter. US Bancorp DE now owns 5,416 shares of the industrial products company’s stock worth $221,000 after buying an additional 2,228 shares in the last quarter. Institutional investors own 84.75% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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