Tetra Tech, Inc. (NASDAQ:TTEK) Sees Large Increase in Short Interest

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 7,910,000 shares, an increase of 66.5% from the January 31st total of 4,750,000 shares. Based on an average daily trading volume, of 2,750,000 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

TTEK has been the topic of several research reports. KeyCorp cut their price target 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. StockNews.com lowered shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Finally, Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tetra Tech has an average rating of "Moderate Buy" and a consensus price target of $47.92.

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Tetra Tech Stock Down 0.7 %

Shares of Tetra Tech stock traded down $0.19 during trading hours on Wednesday, hitting $28.94. 2,181,096 shares of the company's stock traded hands, compared to its average volume of 3,383,571. Tetra Tech has a twelve month low of $28.17 and a twelve month high of $51.20. The company has a market cap of $7.76 billion, a PE ratio of 30.40 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $36.17 and a 200-day simple moving average of $42.37.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating 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 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a yield of 0.80%. The ex-dividend date was Wednesday, February 12th. Tetra Tech's dividend payout ratio is currently 24.21%.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its position in shares of Tetra Tech by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company's stock worth $2,172,000 after buying an additional 400 shares during the period. Nordea Investment Management AB raised its stake in Tetra Tech by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company's stock valued at $1,809,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc boosted its position in Tetra Tech by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company's stock worth $331,000 after acquiring an additional 438 shares during the period. LGT Financial Advisors LLC grew its stake in shares of Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company's stock worth $26,000 after purchasing an additional 444 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company's stock valued at $160,000 after purchasing an additional 461 shares during the period. 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.