Shares of Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) dropped 7.4% during mid-day trading on Monday after Maxim Group downgraded the stock from a buy rating to a hold rating. The company traded as low as $34.04 and last traded at $34.07. Approximately 1,678,264 shares were traded during trading, a decline of 50% from the average daily volume of 3,323,957 shares. The stock had previously closed at $36.80.
TTEK has been the subject of several other reports. StockNews.com downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. KeyCorp cut their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada restated an "outperform" rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and a consensus price target of $48.52.
Read Our Latest Stock Report on TTEK
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. New England Research & Management Inc. purchased a new stake in Tetra Tech in the fourth quarter valued at $596,000. Harbor Capital Advisors Inc. raised its holdings in Tetra Tech by 630.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company's stock valued at $1,718,000 after buying an additional 31,445 shares during the period. Arkadios Wealth Advisors lifted its position in Tetra Tech by 615.8% in the third quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company's stock valued at $1,052,000 after buying an additional 19,193 shares during the last quarter. SFE Investment Counsel boosted its stake in Tetra Tech by 374.8% during the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company's stock worth $1,713,000 after buying an additional 28,679 shares during the period. Finally, Perpetual Ltd increased its position in shares of Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company's stock valued at $8,567,000 after acquiring an additional 18,842 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.
Tetra Tech Stock Down 0.4 %
The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29. The firm has a market capitalization of $9.10 billion, a PE ratio of 35.70 and a beta of 0.89. The business's 50 day moving average price is $40.32 and its 200-day moving average price is $44.07.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS 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 research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.
Tetra Tech Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Wednesday, February 12th. Tetra Tech's dividend payout ratio (DPR) is currently 24.21%.
Tetra Tech Company Profile
(
Get Free Report)
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.
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