Analysts Set Tetra Tech, Inc. (NASDAQ:TTEK) Price Target at $48.52

Tetra Tech, Inc. (NASDAQ:TTEK) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $47.92.

TTEK has been the subject of several research analyst reports. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Robert W. Baird upped 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. Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research report on Friday, January 31st. Finally, KeyCorp dropped their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st.

Insider Buying and Selling

In other news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This represents a 14.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTEK. Vanguard Group Inc. grew its stake in Tetra Tech by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock worth $1,032,338,000 after buying an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Tetra Tech by 2.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock worth $558,512,000 after buying an additional 381,437 shares during the last quarter. Amundi increased its position in Tetra Tech by 2.5% in the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after acquiring an additional 117,304 shares during the period. Geode Capital Management LLC increased its position in Tetra Tech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock valued at $188,487,000 after acquiring an additional 13,616 shares during the period. Finally, Norges Bank acquired a new stake in Tetra Tech during the 4th quarter worth approximately $121,390,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Down 0.1 %

NASDAQ:TTEK opened at $29.93 on Wednesday. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 31.44 and a beta of 0.89. Tetra Tech has a twelve month low of $29.23 and a twelve month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $37.73 and a 200-day simple moving average of $43.15.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Analysts anticipate that Tetra Tech will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $0.058 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s payout ratio is presently 24.21%.

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.