Tetra Tech (NASDAQ:TTEK) Price Target Raised to $41.00 at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its price target hoisted by KeyCorp from $34.00 to $41.00 in a research report released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a report on Friday, January 31st. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Robert W. Baird lifted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.15.

Tetra Tech Stock Up 1.7 %

Shares of TTEK stock opened at $35.49 on Friday. The firm’s fifty day moving average price is $30.07 and its two-hundred day moving average price is $36.47. 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 has a 1 year low of $27.27 and a 1 year high of $51.20. The firm has a market capitalization of $9.51 billion, a P/E ratio of 37.28 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. Tetra Tech’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities analysts predict that Tetra Tech will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio (DPR) is currently 24.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TTEK. New England Research & Management Inc. acquired a new position in shares of Tetra Tech in the fourth quarter valued at approximately $596,000. Nicola Wealth Management LTD. grew its holdings in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after buying an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. increased its position in Tetra Tech by 71.3% during the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after buying an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock worth $1,560,000 after buying an additional 13,606 shares in the last quarter. Finally, Perpetual Ltd boosted its position in shares of Tetra Tech by 9.6% in 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 period. Institutional investors and hedge funds 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.