Tetra Tech (NASDAQ:TTEK) Sets New 12-Month Low - What's Next?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $29.23 and last traded at $29.60, with a volume of 504581 shares traded. The stock had previously closed at $29.64.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Robert W. Baird raised their price target on shares of 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 price target on shares of Tetra Tech in a research report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, KeyCorp lowered their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Tetra Tech presently has an average rating of "Moderate Buy" and an average price target of $47.92.

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Tetra Tech Price Performance

The business's fifty day simple moving average is $36.62 and its 200 day simple moving average is $42.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 29.68 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released 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 net margin of 4.81% and a return on equity of 22.58%. Research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.82%. Tetra Tech's payout ratio is 24.21%.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were 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 $2,066,528.68. This represents a 14.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of TTEK. Geode Capital Management LLC lifted its holdings in shares of Tetra Tech by 406.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company's stock worth $222,466,000 after purchasing an additional 3,785,189 shares during the last quarter. Norges Bank bought a new stake in Tetra Tech in the fourth quarter valued at $121,390,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Tetra Tech by 814.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock valued at $90,329,000 after acquiring an additional 2,019,295 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock valued at $97,644,000 after acquiring an additional 1,618,211 shares during the period. Finally, Bain Capital Public Equity Management II LLC grew its position in shares of Tetra Tech by 149.5% during the fourth quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock worth $96,012,000 after acquiring an additional 1,443,939 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.