Brokerages Set Tetra Tech, Inc. (NASDAQ:TTEK) Price Target at $50.48

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $50.48.

A number of research analysts recently issued reports on TTEK shares. KeyCorp lifted their price target on shares of Tetra Tech from $49.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Robert W. Baird lifted their price target on shares of Tetra Tech from $44.60 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Royal Bank of Canada raised their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an "outperform" rating in a report on Friday, August 2nd.

Tetra Tech Price Performance

Shares of NASDAQ TTEK remained flat at $48.86 during midday trading on Thursday. 1,429,180 shares of the stock traded hands, compared to its average volume of 1,357,273. The company's 50-day moving average price is $46.97 and its two-hundred day moving average price is $43.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. Tetra Tech has a twelve month low of $28.67 and a twelve month high of $50.03. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 9.89 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm's quarterly revenue was up 10.7% on a year-over-year basis. Analysts anticipate that Tetra Tech will post 1.25 EPS for the current fiscal year.

Tetra Tech Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.23 dividend on an annualized basis and a yield of 0.47%. Tetra Tech's payout ratio is currently 4.66%.

Insider Activity

In other news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total value of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 124,380 shares of the company's stock, valued at $5,664,762.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the transaction, the chief executive officer now owns 124,380 shares in the company, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,370 shares of company stock valued at $10,880,243 in the last ninety days. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Tetra Tech by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company's stock valued at $954,684,000 after buying an additional 14,701 shares during the last quarter. Sarasin & Partners LLP grew its position in Tetra Tech by 330.9% in the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company's stock valued at $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Vontobel Holding Ltd. grew its position in Tetra Tech by 409.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,425,589 shares of the industrial products company's stock valued at $67,231,000 after buying an additional 1,145,738 shares during the last quarter. Rheos Capital Works Inc. boosted its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Rheos Capital Works Inc. now owns 684,000 shares of the industrial products company's stock worth $32,257,000 after purchasing an additional 547,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Tetra Tech by 27.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company's stock worth $138,459,000 after purchasing an additional 144,706 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.