Tetra Tech (NASDAQ:TTEK) Price Target Raised to $233.00 at Royal Bank of Canada

Tetra Tech (NASDAQ:TTEK) had its target price upped by analysts at Royal Bank of Canada from $203.00 to $233.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.15% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday. Robert W. Baird boosted their target price on Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Maxim Group raised their price target on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, KeyCorp started coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.40.

Tetra Tech Trading Up 1.7 %

TTEK stock opened at $207.75 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $208.76. The business has a 50 day simple moving average of $186.65 and a two-hundred day simple moving average of $171.67. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. Tetra Tech’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. Research analysts anticipate that Tetra Tech will post 6.2 EPS for the current fiscal year.

Insider Transactions at Tetra Tech

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

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rise Advisors LLC purchased a new stake in Tetra Tech during the first quarter worth $27,000. Contravisory Investment Management Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter worth $26,000. Jones Financial Companies Lllp bought a new stake in Tetra Tech during the fourth quarter valued at about $33,000. Principal Securities Inc. purchased a new position in Tetra Tech in the fourth quarter valued at about $36,000. Finally, Creekmur Asset Management LLC bought a new position in Tetra Tech in the fourth quarter worth about $38,000. 93.89% of the stock is currently owned by institutional investors.

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.