Tetra Tech (NASDAQ:TTEK) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a report issued on Tuesday morning.

Several other equities research analysts have also recently issued reports on TTEK. Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Maxim Group lifted their price objective on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. KeyCorp lifted their price objective on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Robert W. Baird lifted their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Finally, Northcoast Research raised shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 price objective for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $212.96 on Tuesday. The company has a fifty day simple moving average of $191.41 and a two-hundred day simple moving average of $174.74. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 43.11 and a beta of 0.93. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. Tetra Tech has a 52 week low of $132.29 and a 52 week high of $216.24.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.29 by $0.13. The business had revenue of $1.05 billion during 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%. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, equities analysts anticipate that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio is currently 21.05%.

Insider Buying and Selling at Tetra Tech

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 shares were sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares in the company, valued at $5,250,776.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TTEK. Contravisory Investment Management Inc. purchased a new position in Tetra Tech during the fourth quarter worth about $26,000. Rise Advisors LLC purchased a new position in Tetra Tech during the first quarter worth about $27,000. Jones Financial Companies Lllp purchased a new position in Tetra Tech during the fourth quarter worth about $33,000. Principal Securities Inc. purchased a new position in Tetra Tech during the fourth quarter worth about $36,000. Finally, Millburn Ridgefield Corp purchased a new position in Tetra Tech during the third quarter worth about $37,000. 93.89% of the stock is 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.