Tetra Tech (NASDAQ:TTEK) Price Target Increased to $200.00 by Analysts at Robert W. Baird

Tetra Tech (NASDAQ:TTEK) had its price objective upped by Robert W. Baird from $180.00 to $200.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on TTEK. Maxim Group increased their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the company a buy rating in a research note on Tuesday, April 30th. KeyCorp started coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They issued an overweight rating and a $191.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an outperform rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $207.75 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. Tetra Tech has a fifty-two week low of $132.29 and a fifty-two week high of $208.76. The stock has a market cap of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93. The firm’s fifty day simple moving average is $186.65 and its 200-day simple moving average is $171.74.

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

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a dividend of $0.29 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is currently 21.05%.

Insiders Place Their Bets

In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the firm’s 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 sale, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction of $984,981.60. Following the transaction, the senior vice president now directly owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the transaction, 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 16,595 shares of company stock valued at $2,925,482 in the last ninety days. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TTEK. Asset Management One Co. Ltd. lifted its holdings in shares of Tetra Tech by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 31,695 shares of the industrial products company’s stock worth $4,819,000 after acquiring an additional 180 shares during the period. Commonwealth Equity Services LLC raised its holdings in Tetra Tech by 6.1% in the third quarter. Commonwealth Equity Services LLC now owns 5,046 shares of the industrial products company’s stock valued at $767,000 after buying an additional 290 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Tetra Tech by 7.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the industrial products company’s stock valued at $282,000 after buying an additional 134 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Tetra Tech by 13.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 35,971 shares of the industrial products company’s stock valued at $5,469,000 after buying an additional 4,149 shares during the period. Finally, Raymond James & Associates raised its holdings in Tetra Tech by 29.3% in the third quarter. Raymond James & Associates now owns 34,158 shares of the industrial products company’s stock valued at $5,193,000 after buying an additional 7,744 shares during the period. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Company Profile

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.