Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Should You Sell?

Tetra Tech, Inc. (NASDAQ:TTEK) shares gapped down before the market opened on Thursday . The stock had previously closed at $47.35, but opened at $43.10. Tetra Tech shares last traded at $43.92, with a volume of 1,328,776 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on TTEK shares. KeyCorp decreased their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday. Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Stock Performance

The stock has a fifty day simple moving average of $47.60 and a two-hundred day simple moving average of $44.58. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.21 and a current ratio of 1.25. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.058 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s payout ratio is currently 18.67%.

Insider Buying and Selling at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors have recently modified their holdings of the company. Vestcor Inc increased its stake in Tetra Tech by 366.0% during the 3rd quarter. Vestcor Inc now owns 15,220 shares of the industrial products company’s stock valued at $718,000 after purchasing an additional 11,954 shares in the last quarter. M&T Bank Corp increased its position in shares of Tetra Tech by 395.0% during the third quarter. M&T Bank Corp now owns 22,320 shares of the industrial products company’s stock worth $1,053,000 after acquiring an additional 17,811 shares in the last quarter. Duff & Phelps Investment Management Co. increased its position in shares of Tetra Tech by 330.0% during the third quarter. Duff & Phelps Investment Management Co. now owns 630,960 shares of the industrial products company’s stock worth $29,756,000 after acquiring an additional 484,232 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Tetra Tech by 376.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 98,740 shares of the industrial products company’s stock worth $4,657,000 after acquiring an additional 78,008 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in Tetra Tech during the 3rd quarter valued at about $35,370,000. 93.89% of the stock is owned by institutional investors and hedge funds.

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.