Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy at StockNews.com

Tetra Tech (NASDAQ:TTEK) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also issued reports on TTEK. Royal Bank of Canada increased their target price on Tetra Tech from $233.00 to $259.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. KeyCorp raised their price objective on Tetra Tech from $234.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price objective on Tetra Tech from $223.00 to $230.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Maxim Group raised their price objective on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and an average target price of $245.80.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $233.23 on Friday. The firm has a market capitalization of $12.48 billion, a P/E ratio of 47.21 and a beta of 0.93. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $218.85 and its two-hundred day simple moving average is $204.35. Tetra Tech has a twelve month low of $143.35 and a twelve month high of $241.31.

Tetra Tech’s stock is going to split on the morning of Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly minted shares will be issued to shareholders after the closing bell on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.05. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. As a group, equities analysts anticipate that Tetra Tech will post 6.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the completion of the transaction, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tetra Tech news, SVP Preston Hopson III sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $233.07, for a total value of $1,165,350.00. Following the transaction, the senior vice president now directly owns 8,742 shares of the company’s stock, valued at approximately $2,037,497.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the sale, the executive vice president now directly owns 74,887 shares in the company, valued at approximately $15,863,313.21. The disclosure for this sale can be found here. Insiders sold 34,085 shares of company stock worth $7,611,238 in the last 90 days. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Tetra Tech by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after purchasing an additional 14,701 shares in the last quarter. Sarasin & Partners LLP boosted its stake in Tetra Tech by 2.6% in the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after acquiring an additional 32,053 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Tetra Tech by 27.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock valued at $138,459,000 after acquiring an additional 144,706 shares in the last quarter. Ninety One UK Ltd acquired a new position in Tetra Tech in the second quarter valued at $135,897,000. Finally, Norges Bank acquired a new position in Tetra Tech in the fourth quarter valued at $96,655,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.