Tetra Tech (NASDAQ:TTEK) Stock Price Down 4.9% – Here’s What Happened

Tetra Tech, Inc. (NASDAQ:TTEK) shares were down 4.9% on Thursday . The company traded as low as $40.16 and last traded at $39.75. Approximately 337,132 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,395,518 shares. The stock had previously closed at $41.78.

Analyst Ratings Changes

Several research firms recently weighed in on TTEK. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp decreased their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Robert W. Baird raised their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Stock Performance

The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 32.15 and a beta of 0.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a 50-day simple moving average of $41.14 and a two-hundred day simple moving average of $44.32.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $0.058 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.59%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTEK. Allworth Financial LP increased its position in shares of Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Tetra Tech by 3,261.1% during the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 587 shares in the last quarter. Canton Hathaway LLC raised its stake in shares of Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 516 shares during the last quarter. Finally, USA Financial Formulas boosted its holdings in Tetra Tech by 332.3% during the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after buying an additional 545 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

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.