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

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

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

Tetra Tech Stock Up 0.8 %

Tetra Tech stock opened at $41.27 on Thursday. The firm has a market capitalization of $11.05 billion, a P/E ratio of 33.50 and a beta of 0.94. 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 twelve month low of $30.92 and a twelve month high of $51.20. The stock’s fifty day simple moving average is $47.60 and its 200-day simple moving average is $44.58.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Insiders Place Their Bets

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This trade represents a 4.34 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Tetra Tech by 43.3% in the 1st quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock valued at $604,000 after acquiring an additional 988 shares during the period. Nwam LLC purchased a new stake in shares of Tetra Tech in the first quarter valued at about $1,123,000. Vanguard Group Inc. raised its holdings in shares of Tetra Tech by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock valued at $954,684,000 after buying an additional 14,701 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of Tetra Tech by 355.8% during the first quarter. Edgestream Partners L.P. now owns 9,302 shares of the industrial products company’s stock worth $1,718,000 after buying an additional 7,261 shares during the period. Finally, Covestor Ltd grew its holdings in shares of Tetra Tech by 421.1% during the first quarter. Covestor Ltd now owns 495 shares of the industrial products company’s stock worth $92,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

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.