Tetra Tech (NASDAQ:TTEK) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Tetra Tech (NASDAQ:TTEK) from a buy rating to a hold rating in a research report released on Friday.

Several other equities research analysts also recently commented on the company. Robert W. Baird lifted their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday. Finally, KeyCorp lowered their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Trading Up 0.8 %

NASDAQ:TTEK opened at $41.27 on Friday. Tetra Tech has a 52 week low of $30.92 and a 52 week high of $51.20. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 33.55 and a beta of 0.94. The company’s 50 day moving average price is $47.60 and its 200-day moving average price is $44.58. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is 18.70%.

Insider Transactions at Tetra Tech

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,750 shares of company stock worth $5,633,239 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Trading of Tetra Tech

Several institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new stake in Tetra Tech during the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its holdings in Tetra Tech by 561.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 205 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 174 shares during the last quarter. Family Firm Inc. purchased a new stake in Tetra Tech in the 2nd quarter worth $51,000. Quarry LP bought a new position in shares of Tetra Tech during the 2nd quarter valued at about $54,000. Finally, 1832 Asset Management L.P. grew its position in shares of Tetra Tech by 125.8% during the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other 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.