Tetra Tech (NASDAQ:TTEK) Price Target Raised to $47.00

Tetra Tech (NASDAQ:TTEK) had its target price raised by Robert W. Baird from $46.00 to $47.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the stock. KeyCorp upped their price objective on shares of Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Trading Up 0.8 %

Shares of TTEK opened at $41.27 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. Tetra Tech has a 12-month low of $30.92 and a 12-month high of $51.20. The firm has a 50-day moving average price of $47.60 and a 200 day moving average price of $44.58. The firm has a market capitalization of $11.05 billion, a P/E ratio of 33.55 and a beta of 0.94.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. Tetra Tech’s payout ratio is currently 18.70%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Tetra Tech

Hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in Tetra Tech in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in Tetra Tech by 561.3% in the second 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 in the last quarter. Family Firm Inc. acquired a new stake in Tetra Tech in the second quarter valued at approximately $51,000. Quarry LP acquired a new stake in Tetra Tech in the second quarter valued at approximately $54,000. Finally, 1832 Asset Management L.P. raised its holdings in Tetra Tech by 125.8% in the first quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 151 shares in the last quarter. 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.