Tetra Tech (NASDAQ:TTEK) Price Target Cut to $49.00 by Analysts at KeyCorp

Tetra Tech (NASDAQ:TTEK - Get Free Report) had its price target dropped by analysts at KeyCorp from $56.00 to $49.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. KeyCorp's target price would suggest a potential upside of 18.73% from the company's previous close.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lifted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research note on Thursday. Royal Bank of Canada boosted their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and an average target price of $49.32.

Tetra Tech Stock Up 0.8 %

TTEK traded up $0.31 during midday trading on Friday, hitting $41.27. 4,176,183 shares of the company's stock traded hands, compared to its average volume of 1,457,021. The company has a market cap of $11.05 billion, a PE ratio of 32.87 and a beta of 0.94. The stock's fifty day simple moving average is $47.82 and its 200-day simple moving average is $44.55. 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 one year low of $30.92 and a one year high of $51.20.

Insider Buying and Selling

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now owns 143,200 shares in the company, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently bought and sold shares of TTEK. Sarasin & Partners LLP lifted its holdings 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 worth $233,460,000 after buying an additional 3,801,435 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company's stock worth $155,601,000 after buying an additional 2,622,288 shares during the period. abrdn plc lifted its holdings in Tetra Tech by 353.0% in the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company's stock worth $98,477,000 after buying an additional 1,644,267 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Tetra Tech by 357.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company's stock worth $97,644,000 after buying an additional 1,618,211 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in shares of Tetra Tech by 289.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,824,250 shares of the industrial products company's stock valued at $86,032,000 after purchasing an additional 1,355,351 shares during the period. 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.