Tetra Tech, Inc. (NASDAQ:TTEK) Receives $49.32 Consensus Target Price from Brokerages

Tetra Tech, Inc. (NASDAQ:TTEK) has been given an average rating of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $49.32.

TTEK has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp cut their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th.

Institutional Trading of Tetra Tech

A number of institutional investors and hedge funds have recently bought and sold shares of TTEK. Sarasin & Partners LLP boosted its position in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after acquiring an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after purchasing an additional 2,622,288 shares in the last quarter. abrdn plc lifted its position in Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after purchasing an additional 1,644,267 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Trading Up 0.9 %

Shares of TTEK opened at $40.23 on Tuesday. The stock has a market capitalization of $10.77 billion, a P/E ratio of 32.65 and a beta of 0.90. Tetra Tech has a twelve month low of $31.61 and a twelve month high of $51.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $43.03 and a two-hundred day simple moving average of $44.35.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a $0.058 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.58%. Tetra Tech’s dividend payout ratio is currently 18.70%.

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.