Tetra Tech (NASDAQ:TTEK) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday, September 20th.
A number of other equities analysts also recently issued reports on the company. Canaccord Genuity restated a “buy” rating and issued a $73.00 price target (up from $60.00) on shares of Tetra Tech in a research note on Thursday, August 2nd. Zacks Investment Research cut Tetra Tech from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Finally, Roth Capital raised their target price on Tetra Tech from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Tetra Tech currently has a consensus rating of “Buy” and a consensus price target of $65.00.
Shares of Tetra Tech stock traded up $0.40 during midday trading on Thursday, hitting $64.55. The company had a trading volume of 263,194 shares, compared to its average volume of 247,094. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.45. Tetra Tech has a 52-week low of $44.65 and a 52-week high of $72.20. The company has a market capitalization of $3.78 billion, a P/E ratio of 30.31, a PEG ratio of 1.85 and a beta of 0.99.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, August 1st. The industrial products company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. The business had revenue of $761.50 million for the quarter, compared to the consensus estimate of $540.99 million. Tetra Tech had a return on equity of 15.31% and a net margin of 4.82%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. As a group, equities analysts expect that Tetra Tech will post 2.64 EPS for the current year.
In other Tetra Tech news, SVP Jan K. Auman sold 1,979 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $68.70, for a total transaction of $135,957.30. Following the sale, the senior vice president now directly owns 9,032 shares of the company’s stock, valued at $620,498.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. KAMES CAPITAL plc grew its position in shares of Tetra Tech by 2.6% during the third quarter. KAMES CAPITAL plc now owns 1,480,699 shares of the industrial products company’s stock valued at $101,132,000 after purchasing an additional 37,262 shares in the last quarter. We Are One Seven LLC purchased a new position in Tetra Tech in the third quarter worth about $243,000. GHP Investment Advisors Inc. grew its position in Tetra Tech by 3.7% in the second quarter. GHP Investment Advisors Inc. now owns 92,317 shares of the industrial products company’s stock worth $5,401,000 after acquiring an additional 3,294 shares in the last quarter. M Holdings Securities Inc. purchased a new position in Tetra Tech in the second quarter worth about $222,000. Finally, Global X Management Co LLC grew its position in Tetra Tech by 19.0% in the second quarter. Global X Management Co LLC now owns 13,597 shares of the industrial products company’s stock worth $795,000 after acquiring an additional 2,175 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.