KeyCorp Has Lowered Expectations for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK - Free Report) had its target price decreased by KeyCorp from $49.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company's stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday, November 15th. StockNews.com cut Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, Robert W. Baird raised their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.52.

Tetra Tech Price Performance

Shares of NASDAQ TTEK traded up $0.33 during mid-day trading on Friday, reaching $34.54. 4,436,452 shares of the company traded hands, compared to its average volume of 3,710,958. The firm has a market cap of $9.26 billion, a PE ratio of 36.28 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 1.25. Tetra Tech has a fifty-two week low of $31.09 and a fifty-two week high of $51.20. The stock has a fifty day simple moving average of $40.61 and a 200-day simple moving average of $44.16.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping analysts' consensus estimates 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 anticipate that Tetra Tech will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.67%. Tetra Tech's payout ratio is 24.16%.

Hedge Funds Weigh In On Tetra Tech

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Tetra Tech by 14.1% during the 2nd quarter. AQR Capital Management LLC now owns 4,056 shares of the industrial products company's stock valued at $829,000 after buying an additional 502 shares during the last quarter. Quarry LP bought a new position in shares of Tetra Tech during the 2nd quarter valued at $54,000. Point72 Asset Management L.P. lifted its stake in shares of Tetra Tech by 37.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,800 shares of the industrial products company's stock valued at $982,000 after purchasing an additional 1,300 shares during the last quarter. Cetera Investment Advisers increased its position in Tetra Tech by 17.8% during the second quarter. Cetera Investment Advisers now owns 10,137 shares of the industrial products company's stock worth $2,073,000 after buying an additional 1,532 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Tetra Tech during the second quarter valued at about $995,000. 93.89% of the stock is owned by institutional investors and hedge funds.

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.