KeyCorp Has Lowered Expectations for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK) had its price target decreased by equities research analysts at KeyCorp from $49.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price points to a potential upside of 22.75% from the company’s previous close.

Several other research firms also recently issued reports on TTEK. Robert W. Baird upped their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research report on Friday, November 15th. Finally, StockNews.com cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.52.

Tetra Tech Stock Up 0.2 %

TTEK traded up $0.09 during trading on Friday, hitting $36.66. The stock had a trading volume of 1,948,818 shares, compared to its average volume of 3,219,883. The stock has a 50 day simple moving average of $40.83 and a two-hundred day simple moving average of $44.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech has a twelve month low of $31.09 and a twelve month high of $51.20. The company has a market capitalization of $9.83 billion, a PE ratio of 38.52 and a beta of 0.90.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a return on equity of 22.57% and a net margin of 4.81%. On average, research analysts predict that Tetra Tech will post 1.45 earnings per share for the current year.

Institutional Trading of Tetra Tech

Several hedge funds and other institutional investors have recently bought and sold shares of TTEK. Sarasin & Partners LLP raised its position in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after acquiring an additional 3,801,435 shares during the period. Geode Capital Management LLC increased its stake in shares of Tetra Tech by 406.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 valued at $155,601,000 after purchasing an additional 2,622,288 shares in the last quarter. abrdn plc raised 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 purchasing an additional 1,644,267 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after purchasing an additional 1,618,211 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.