Tetra Tech (NASDAQ:TTEK) Reaches New 1-Year Low – Should You Sell?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $27.27 and last traded at $28.37, with a volume of 1123907 shares traded. The stock had previously closed at $29.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. KeyCorp decreased their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Tetra Tech Stock Performance

The firm has a market capitalization of $7.56 billion, a PE ratio of 29.63 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50-day simple moving average of $30.81 and a 200-day simple moving average of $39.41.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Equities research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.82%. Tetra Tech’s dividend payout ratio is presently 24.21%.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Tetra Tech by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock valued at $1,032,338,000 after acquiring an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Tetra Tech by 2.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock valued at $558,512,000 after purchasing an additional 381,437 shares during the period. Amundi increased its stake in Tetra Tech by 2.5% in the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after buying an additional 117,304 shares during the period. Geode Capital Management LLC lifted its holdings in Tetra Tech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock valued at $188,487,000 after buying an additional 13,616 shares in the last quarter. Finally, Norges Bank purchased a new stake in Tetra Tech in the 4th quarter valued at about $121,390,000. 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.