KeyCorp Cuts Tetra Tech (NASDAQ:TTEK) Price Target to $34.00

Tetra Tech (NASDAQ:TTEK) had its price objective cut by KeyCorp from $45.00 to $34.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

TTEK has been the subject of a number of other reports. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $45.72.

Tetra Tech Stock Up 1.2 %

NASDAQ:TTEK opened at $30.22 on Wednesday. The company’s 50 day moving average is $29.67 and its two-hundred day moving average is $38.37. The company has a market cap of $8.10 billion, a PE ratio of 31.74 and a beta of 0.89. Tetra Tech has a twelve month low of $27.27 and a twelve month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Analysts anticipate that Tetra Tech will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio is currently 24.21%.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now owns 60,196 shares in the company, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TTEK. R Squared Ltd purchased a new stake in Tetra Tech in the 4th quarter worth $39,000. Asset Planning Inc acquired a new stake in shares of Tetra Tech in the fourth quarter valued at about $40,000. Jones Financial Companies Lllp increased its stake in shares of Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 495 shares in the last quarter. Caption Management LLC acquired a new position in shares of Tetra Tech during the 4th quarter worth about $40,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company’s stock valued at $49,000 after buying an additional 1,483 shares in the last quarter. 93.89% of the stock is 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.