Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Update

Tetra Tech, Inc. (NASDAQ:TTEK) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,060,000 shares, an increase of 24.4% from the March 31st total of 852,100 shares. Based on an average trading volume of 270,300 shares, the short-interest ratio is currently 3.9 days. Approximately 2.0% of the company’s stock are sold short.

Insider Buying and Selling

In related news, Director J Kenneth Thompson sold 3,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total transaction of $620,340.00. Following the sale, the director now directly owns 10,985 shares in the company, valued at $1,946,981.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the sale, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the sale, the chief financial officer now owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock worth $5,487,673 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. raised its position in shares of Tetra Tech by 40.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 21,444 shares of the industrial products company’s stock valued at $3,692,000 after buying an additional 6,131 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in Tetra Tech during the 1st quarter worth approximately $242,000. Robeco Schweiz AG increased its position in Tetra Tech by 26.5% during the 1st quarter. Robeco Schweiz AG now owns 299,389 shares of the industrial products company’s stock worth $55,300,000 after purchasing an additional 62,699 shares in the last quarter. HTLF Bank acquired a new position in Tetra Tech during the 1st quarter worth approximately $206,000. Finally, Whalen Wealth Management Inc. acquired a new position in Tetra Tech during the 1st quarter worth approximately $469,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TTEK has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. KeyCorp initiated coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.25.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $192.50 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $10.30 billion, a P/E ratio of 44.56 and a beta of 0.96. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $194.99. The firm has a 50-day moving average price of $184.55 and a two-hundred day moving average price of $170.47.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. During the same quarter in the previous year, the firm posted $1.34 EPS. Analysts anticipate that Tetra Tech will post 6.07 earnings per share for the current year.

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.