Tetra Tech (TTEK) Given Average Recommendation of “Buy” by Brokerages

Shares of Tetra Tech (NASDAQ:TTEK) have received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $56.40.

Several analysts recently weighed in on the stock. BidaskClub raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. ValuEngine raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, May 8th. Zacks Investment Research cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Stifel Nicolaus boosted their price objective 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. Finally, Boenning Scattergood reissued a “buy” rating and issued a $65.00 price objective on shares of Tetra Tech in a research note on Thursday, March 15th.

Shares of Tetra Tech traded up $0.35, hitting $53.20, during trading on Friday, Marketbeat reports. 556 shares of the company were exchanged, compared to its average volume of 255,038. The company has a market capitalization of $2.92 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.05 and a current ratio of 2.05. Tetra Tech has a 1-year low of $52.15 and a 1-year high of $52.45.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Tetra Tech had a net margin of 4.83% and a return on equity of 14.38%. The company had revenue of $532.79 million for the quarter, compared to analysts’ expectations of $509.14 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Tetra Tech’s revenue for the quarter was up 4.1% on a year-over-year basis. equities analysts forecast that Tetra Tech will post 2.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Wednesday, May 16th will be paid a $0.12 dividend. This is a boost from Tetra Tech’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, May 15th. This represents a $0.48 annualized dividend and a dividend yield of 0.90%. Tetra Tech’s payout ratio is currently 22.54%.

In other Tetra Tech news, SVP Mark A. Rynning sold 660 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $50.44, for a total transaction of $33,290.40. Following the sale, the senior vice president now owns 3,358 shares of the company’s stock, valued at $169,377.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Lemmon sold 1,661 shares of the company’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $52.23, for a total transaction of $86,754.03. The disclosure for this sale can be found here. In the last three months, insiders sold 131,581 shares of company stock worth $6,733,486. 3.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tetra Tech by 50.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,054 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 1,019 shares during the last quarter. Deutsche Bank AG boosted its position in Tetra Tech by 28.9% during the fourth quarter. Deutsche Bank AG now owns 437,152 shares of the industrial products company’s stock valued at $21,045,000 after acquiring an additional 98,088 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Tetra Tech by 54.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 172,344 shares of the industrial products company’s stock valued at $8,298,000 after acquiring an additional 60,787 shares during the last quarter. Wells Fargo & Company MN boosted its position in Tetra Tech by 12.3% during the fourth quarter. Wells Fargo & Company MN now owns 357,520 shares of the industrial products company’s stock valued at $17,214,000 after acquiring an additional 39,037 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Tetra Tech by 10.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 80,861 shares of the industrial products company’s stock worth $3,893,000 after purchasing an additional 7,361 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

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