Tetra Tech (NASDAQ:TTEK) Cut to Hold at Maxim Group

Tetra Tech (NASDAQ:TTEK - Get Free Report) was downgraded by equities research analysts at Maxim Group from a "buy" rating to a "hold" rating in a research note issued to investors on Thursday, MarketBeat.com reports.

TTEK has been the topic of a number of other reports. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Finally, Robert W. Baird boosted their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $48.52.

Tetra Tech Price Performance

TTEK stock traded down $0.16 during trading on Thursday, reaching $33.24. 3,934,222 shares of the company were exchanged, compared to its average volume of 3,630,796. The company has a 50-day moving average of $40.00 and a two-hundred day moving average of $43.97. Tetra Tech has a twelve month low of $31.09 and a twelve month high of $51.20. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 34.92 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 (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 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, equities analysts predict that Tetra Tech will post 1.37 earnings per share for the current fiscal year.

Insider Transactions at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm's 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 transaction, the director now owns 60,196 shares of the company's stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company's stock.

Institutional Trading of Tetra Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP boosted its position in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company's stock worth $26,000 after acquiring an additional 472 shares during the last quarter. LGT Financial Advisors LLC boosted its position in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock valued at $26,000 after buying an additional 444 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company's stock valued at $29,000 after buying an additional 587 shares during the period. Canton Hathaway LLC lifted its holdings in Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company's stock worth $30,000 after buying an additional 516 shares during the period. Finally, Banque Cantonale Vaudoise grew its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 695 shares of the industrial products company's stock worth $33,000 after buying an additional 556 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

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.