KeyCorp Issues Pessimistic Forecast for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK) had its target price cut by KeyCorp from $49.00 to $45.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird upped their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.52.

Tetra Tech Price Performance

Tetra Tech stock opened at $36.80 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. The stock has a market cap of $9.86 billion, a P/E ratio of 38.66 and a beta of 0.90. The company has a 50-day moving average price of $40.75 and a 200 day moving average price of $44.21. Tetra Tech has a 12-month low of $31.09 and a 12-month high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.57%. Sell-side analysts anticipate that Tetra Tech will post 1.45 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.16%.

Institutional Trading of Tetra Tech

A number of institutional investors and hedge funds have recently bought and sold shares of TTEK. New England Research & Management Inc. acquired a new position in shares of Tetra Tech in the fourth quarter valued at approximately $596,000. Harbor Capital Advisors Inc. increased its position in shares of Tetra Tech by 630.8% during the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after acquiring an additional 31,445 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Tetra Tech by 615.8% in the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock valued at $1,052,000 after acquiring an additional 19,193 shares in the last quarter. SFE Investment Counsel raised its stake in shares of Tetra Tech by 374.8% in the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock valued at $1,713,000 after acquiring an additional 28,679 shares in the last quarter. Finally, Perpetual Ltd boosted its holdings in Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after purchasing an additional 18,842 shares during the period. 93.89% of the stock is currently 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.