Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Update

Tetra Tech, Inc. (NASDAQ:TTEK) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 9,090,000 shares, anincreaseof211.3% from the June 30th total of 2,920,000 shares. Based on an average daily trading volume, of 2,040,000 shares, the short-interest ratio is presently 4.5 days. Based on an average daily trading volume, of 2,040,000 shares, the short-interest ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TTEK. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird boosted their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, KeyCorp boosted their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Praxis Investment Management Inc. bought a new position in Tetra Tech in the 1st quarter worth $348,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Tetra Tech by 39.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company’s stock worth $541,000 after buying an additional 5,275 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Tetra Tech by 259.3% during the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company’s stock valued at $1,357,000 after purchasing an additional 33,491 shares during the last quarter. Summit Trail Advisors LLC bought a new position in shares of Tetra Tech during the 1st quarter valued at about $590,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of Tetra Tech by 16.2% during the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company’s stock valued at $2,134,000 after purchasing an additional 10,159 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Trading Up 1.9%

Shares of TTEK stock opened at $36.55 on Tuesday. Tetra Tech has a 1 year low of $27.27 and a 1 year high of $51.20. The firm has a fifty day moving average price of $36.30 and a 200-day moving average price of $33.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 45.69 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. Tetra Tech’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. As a group, equities analysts predict that Tetra Tech will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.065 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.26 annualized dividend and a yield of 0.7%. Tetra Tech’s dividend payout ratio is currently 32.50%.

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.