Wall Street Zen Downgrades Tetra Tech (NASDAQ:TTEK) to Hold

Tetra Tech (NASDAQ:TTEK) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other brokerages have also recently issued reports on TTEK. KeyCorp upped their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Tetra Tech in a research note on Saturday, September 27th. Northcoast Research reiterated a “neutral” rating on shares of Tetra Tech in a report on Wednesday. Finally, Royal Bank Of Canada set a $47.00 price objective on shares of Tetra Tech and gave the stock an “outperform” rating in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.

Tetra Tech Price Performance

TTEK stock opened at $33.74 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a 50 day moving average price of $35.88 and a 200-day moving average price of $34.41. Tetra Tech has a 52-week low of $27.27 and a 52-week high of $51.20. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 42.18 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.59 EPS. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. Equities research analysts forecast that Tetra Tech will post 1.37 EPS for the current fiscal year.

Insider Activity at Tetra Tech

In related news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director owned 37,725 shares in the company, valued at approximately $1,358,100. The trade was a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Tetra Tech

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Tetra Tech during the second quarter worth about $104,843,000. Corient Private Wealth LLC boosted its stake in Tetra Tech by 84.9% in the 2nd quarter. Corient Private Wealth LLC now owns 4,021,788 shares of the industrial products company’s stock worth $147,095,000 after purchasing an additional 1,847,087 shares during the period. LGT Group Foundation grew its holdings in Tetra Tech by 124.2% during the 1st quarter. LGT Group Foundation now owns 2,734,057 shares of the industrial products company’s stock valued at $79,971,000 after buying an additional 1,514,583 shares in the last quarter. M&G PLC raised its position in shares of Tetra Tech by 150.1% during the second quarter. M&G PLC now owns 2,416,512 shares of the industrial products company’s stock valued at $86,994,000 after buying an additional 1,450,420 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Tetra Tech by 4.9% in the first quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company’s stock worth $795,185,000 after buying an additional 1,273,692 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

About Tetra Tech

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.