Tetra Tech (TTEK) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research note released on Tuesday.

TTEK has been the topic of a number of other research reports. ValuEngine downgraded shares of Tetra Tech from a buy rating to a hold rating in a research note on Wednesday, December 20th. Boenning Scattergood reaffirmed a buy rating and set a $65.00 price target on shares of Tetra Tech in a research note on Thursday, March 15th. Stifel Nicolaus increased their price target on shares of Tetra Tech from $52.00 to $53.00 and gave the stock a hold rating in a research note on Monday, April 2nd. Zacks Investment Research lowered shares of Tetra Tech from a strong-buy rating to a hold rating in a research report on Tuesday, April 3rd. Finally, Canaccord Genuity reissued a buy rating and issued a $60.00 price objective on shares of Tetra Tech in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $57.00.

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NASDAQ:TTEK opened at $52.10 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.46. The company has a market cap of $2,915.41, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.56 and a beta of 0.97. Tetra Tech has a fifty-two week low of $39.95 and a fifty-two week high of $53.40.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The company had revenue of $544.85 million for the quarter, compared to the consensus estimate of $510.22 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.26%. Tetra Tech’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. equities analysts predict that Tetra Tech will post 2.49 earnings per share for the current fiscal year.

In other news, Director Hugh M. Grant sold 8,000 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $48.00, for a total value of $384,000.00. Following the completion of the sale, the director now owns 25,621 shares of the company’s stock, valued at $1,229,808. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Dan L. Batrack sold 68,270 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $51.62, for a total transaction of $3,524,097.40. The disclosure for this sale can be found here. Insiders sold 164,331 shares of company stock valued at $8,343,340 in the last three months. Company insiders own 3.40% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC increased its position in shares of Tetra Tech by 5.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 1,272,473 shares of the industrial products company’s stock worth $61,270,000 after acquiring an additional 66,381 shares in the last quarter. KAMES CAPITAL plc grew its holdings in Tetra Tech by 7.3% during the 4th quarter. KAMES CAPITAL plc now owns 1,209,670 shares of the industrial products company’s stock valued at $58,185,000 after purchasing an additional 82,147 shares in the last quarter. Boston Partners grew its holdings in Tetra Tech by 4.4% during the 4th quarter. Boston Partners now owns 1,079,262 shares of the industrial products company’s stock valued at $51,967,000 after purchasing an additional 45,770 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Tetra Tech by 1.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 783,488 shares of the industrial products company’s stock valued at $36,471,000 after purchasing an additional 10,692 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Tetra Tech by 9.2% during the 4th quarter. Macquarie Group Ltd. now owns 746,162 shares of the industrial products company’s stock valued at $35,928,000 after purchasing an additional 63,040 shares in the last quarter. 87.35% of the stock is owned by institutional investors.

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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)

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