Tetra Tech (NASDAQ:TTEK) Given New $34.00 Price Target at KeyCorp

Tetra Tech (NASDAQ:TTEK - Get Free Report) had its price target decreased by KeyCorp from $45.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price target points to a potential upside of 12.51% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a report on Friday, January 31st. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Tetra Tech presently has an average rating of "Moderate Buy" and an average price target of $45.72.

Tetra Tech Stock Up 1.2 %

Shares of TTEK traded up $0.37 during midday trading on Wednesday, hitting $30.22. 1,045,189 shares of the company's stock traded hands, compared to its average volume of 2,009,772. The firm's fifty day moving average is $29.67 and its 200-day moving average is $38.37. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 31.74 and a beta of 0.89. Tetra Tech has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (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%. As a group, sell-side analysts anticipate that Tetra Tech will post 1.37 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tetra Tech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its holdings in Tetra Tech by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock worth $2,172,000 after acquiring an additional 400 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Tetra Tech by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company's stock worth $1,809,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Tetra Tech by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company's stock valued at $331,000 after acquiring an additional 438 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Tetra Tech by 13.0% during the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after acquiring an additional 461 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Tetra Tech by 9.7% during the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after purchasing an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

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.