Tetra Tech (TTEK) Stock Rating Lowered by BidaskClub

Tetra Tech (NASDAQ:TTEK) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, January 10th.

A number of other research analysts also recently commented on the stock. ValuEngine downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Zacks Investment Research downgraded shares of Tetra Tech from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Robert W. Baird increased their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $54.00 price objective on shares of Tetra Tech in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Tetra Tech presently has an average rating of “Hold” and a consensus target price of $52.29.

Tetra Tech (NASDAQ TTEK) opened at $49.35 on Wednesday. Tetra Tech has a 52-week low of $38.85 and a 52-week high of $50.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market cap of $2,741.55, a P/E ratio of 24.19, a P/E/G ratio of 1.57 and a beta of 1.08.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $533.00 million during the quarter, compared to analyst estimates of $517.90 million. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. equities research analysts expect that Tetra Tech will post 2.32 EPS for the current fiscal year.

In other Tetra Tech news, insider Ronald J. Chu sold 696 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $50.00, for a total value of $34,800.00. Following the completion of the transaction, the insider now directly owns 37,800 shares in the company, valued at $1,890,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dan L. Batrack sold 43,317 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $48.65, for a total transaction of $2,107,372.05. Following the completion of the transaction, the chief executive officer now owns 318,994 shares of the company’s stock, valued at $15,519,058.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,019 shares of company stock worth $11,385,910. 4.00% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of TTEK. Koch Industries Inc. acquired a new stake in shares of Tetra Tech during the second quarter worth approximately $506,000. Allianz Asset Management GmbH lifted its stake in Tetra Tech by 35.5% in the third quarter. Allianz Asset Management GmbH now owns 582,449 shares of the industrial products company’s stock valued at $27,113,000 after acquiring an additional 152,695 shares during the last quarter. PDT Partners LLC acquired a new stake in Tetra Tech in the second quarter valued at approximately $6,519,000. Janus Henderson Group PLC lifted its stake in Tetra Tech by 270.8% in the second quarter. Janus Henderson Group PLC now owns 193,166 shares of the industrial products company’s stock valued at $8,833,000 after acquiring an additional 141,066 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Tetra Tech by 76.4% in the third quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock valued at $14,825,000 after acquiring an additional 137,887 shares during the last quarter. Institutional investors and hedge funds own 84.73% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece of content was reported by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://weekherald.com/2018/01/17/bidaskclub-downgrades-tetra-tech-ttek-to-hold.html.

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.

Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply