Tetra Tech (NASDAQ:TTEK) Price Target Cut to $190.00

Tetra Tech (NASDAQ:TTEKGet Rating) had its target price lowered by equities research analysts at Maxim Group from $215.00 to $190.00 in a report issued on Friday, The Fly reports. Maxim Group’s price objective points to a potential upside of 42.73% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. StockNews.com started coverage on shares of Tetra Tech in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Robert W. Baird lowered their price target on shares of Tetra Tech from $176.00 to $163.00 in a research note on Thursday, February 3rd.

TTEK opened at $133.12 on Friday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 28.32 and a beta of 0.93. Tetra Tech has a 12 month low of $116.01 and a 12 month high of $192.91. The firm’s fifty day simple moving average is $155.74 and its 200 day simple moving average is $161.32. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.20.

Tetra Tech (NASDAQ:TTEKGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $699.64 million for the quarter, compared to analysts’ expectations of $653.85 million. Tetra Tech had a net margin of 7.53% and a return on equity of 18.28%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. On average, equities research analysts predict that Tetra Tech will post 4.28 EPS for the current fiscal year.

In other Tetra Tech news, Director Patrick C. Haden sold 318 shares of the firm’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $164.54, for a total value of $52,323.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kirsten M. Volpi sold 900 shares of the firm’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $156.34, for a total transaction of $140,706.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,185 shares of company stock valued at $1,673,750. 1.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc purchased a new stake in Tetra Tech during the first quarter worth about $35,000. CWM LLC purchased a new position in shares of Tetra Tech in the fourth quarter worth about $44,000. Signaturefd LLC increased its stake in shares of Tetra Tech by 581.8% in the first quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 256 shares in the last quarter. UMB Bank N A MO purchased a new position in shares of Tetra Tech in the fourth quarter worth about $60,000. Finally, USA Financial Portformulas Corp increased its stake in shares of Tetra Tech by 3,553.8% in the fourth quarter. USA Financial Portformulas Corp now owns 475 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 462 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Tetra Tech Company Profile (Get Rating)

Tetra Tech, Inc provides consulting and engineering services worldwide. 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.

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