Tetra Tech (NASDAQ:TTEK) Upgraded to “Buy” at StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

TTEK has been the topic of several other reports. Robert W. Baird raised their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. KeyCorp upped their price objective on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada lifted their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Maxim Group raised their price target on shares of Tetra Tech from $46.80 to $53.60 and gave the company a “buy” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and a consensus target price of $49.16.

Tetra Tech Trading Down 3.4 %

Shares of NASDAQ TTEK opened at $225.23 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50 day moving average price is $47.46 and its 200-day moving average price is $42.23. Tetra Tech has a fifty-two week low of $143.35 and a fifty-two week high of $241.31. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 45.59 and a beta of 0.95.

Tetra Tech’s stock is going to split on Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly issued shares will be issued to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. Tetra Tech’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. On average, sell-side analysts expect that Tetra Tech will post 6.24 earnings per share for the current year.

Insiders Place Their Bets

In other Tetra Tech news, SVP Preston Hopson III sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the sale, the senior vice president now owns 43,710 shares of the company’s stock, valued at approximately $2,037,497.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Preston Hopson III sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $46.61, for a total transaction of $1,165,350.00. Following the completion of the sale, the senior vice president now directly owns 43,710 shares in the company, valued at $2,037,497.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,425 shares of company stock valued at $7,611,238. Insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Several large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $995,000. Cetera Investment Advisers boosted its holdings in shares of Tetra Tech by 17.8% in the 2nd quarter. Cetera Investment Advisers now owns 10,137 shares of the industrial products company’s stock valued at $2,073,000 after acquiring an additional 1,532 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Tetra Tech by 37.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,800 shares of the industrial products company’s stock valued at $982,000 after purchasing an additional 1,300 shares during the period. Quarry LP acquired a new position in shares of Tetra Tech in the 2nd quarter valued at $54,000. Finally, Algert Global LLC lifted its stake in shares of Tetra Tech by 41.1% in the 2nd quarter. Algert Global LLC now owns 21,327 shares of the industrial products company’s stock valued at $4,361,000 after purchasing an additional 6,214 shares during the period. 93.89% of the stock is owned by hedge funds and other 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.