Research analysts at Crowell, Weedon & Co. lifted their target price on shares of Tetra Tech (NASDAQ: TTEK) from $29.00 to $31.00 in a report released on Monday. The firm currently has a “buy” rating on the stock.
The analysts wrote, “after the company reported solid Q2 results and has good visibility for the second half of its fiscal year, which is under way. TTEK’s focus on supplementing organic growth with strategic acquisitions has enabled the company to build its international and commercial consulting businesses and reduce dependence on government customers. This has led to a balanced business model that emphasizes ‘front-end” design and consulting services that comprised 86% of fiscal Q2 net revenue. As a leading global Engineering and Consulting firm TTEK has maintained its leadership in water-related resource management and infrastructure projects.”
Tetra Tech traded down 0.53% on Monday, hitting $24.19. Tetra Tech has a 52-week low of $17.31 and a 52-week high of $28.00. The company has a market cap of $1.534 billion and a price-to-earnings ratio of 16.22.
Tetra Tech last posted its quarterly earnings results on Wednesday, May 2nd. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.33 by $0.02. Tetra Tech’s revenue was up 10.8% compared to the same quarter last year. Analysts expect that Tetra Tech will post $0.49 EPS next quarter.
A number of other firms have also recently commented on TTEK. Analysts at Roth Capital initiated coverage on shares of Tetra Tech in a research note to investors on Thursday, May 10th. They set a “buy” rating on the stock. Analysts at DA Davidson raised their price target on shares of Tetra Tech from $30.00 to $32.00 in a research note to investors on Friday, May 4th. They now have a “buy” rating on the stock.
Tetra Tech, Inc. is a provider of consulting, engineering, program management, construction management and technical services focusing on natural resource management, infrastructure, energy and the environment.