Tetra Tech, Inc. (TTEK) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have received an average recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $72.83.

TTEK has been the topic of several analyst reports. ValuEngine cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. BidaskClub cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a report on Tuesday, December 4th. Maxim Group reaffirmed a “buy” rating and issued a $87.00 target price on shares of Tetra Tech in a report on Friday, January 11th. Boenning Scattergood reaffirmed a “buy” rating and issued a $80.00 target price on shares of Tetra Tech in a report on Thursday, December 6th. Finally, Zacks Investment Research upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Saturday, January 5th.

Shares of TTEK traded up $0.45 during mid-day trading on Wednesday, hitting $59.96. 200,400 shares of the company’s stock were exchanged, compared to its average volume of 349,979. The stock has a market capitalization of $3.32 billion, a PE ratio of 22.71, a P/E/G ratio of 1.35 and a beta of 1.16. Tetra Tech has a fifty-two week low of $46.30 and a fifty-two week high of $72.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 1.79.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.08. The business had revenue of $553.36 million for the quarter, compared to analysts’ expectations of $558.46 million. Tetra Tech had a net margin of 4.55% and a return on equity of 16.02%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, sell-side analysts predict that Tetra Tech will post 2.96 earnings per share for the current year.

In other Tetra Tech news, Director Albert E. Smith sold 8,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $53.00, for a total value of $424,000.00. Following the transaction, the director now directly owns 51,158 shares in the company, valued at $2,711,374. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Craig L. Christensen sold 4,025 shares of the stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $52.79, for a total transaction of $212,479.75. The disclosure for this sale can be found here. Insiders sold 56,159 shares of company stock worth $3,192,527 over the last quarter. 3.00% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Tetra Tech by 13.3% in the fourth quarter. Geode Capital Management LLC now owns 680,579 shares of the industrial products company’s stock valued at $35,233,000 after purchasing an additional 79,944 shares during the last quarter. Norges Bank purchased a new position in shares of Tetra Tech during the fourth quarter worth approximately $98,489,000. Nordea Investment Management AB grew its position in shares of Tetra Tech by 5.2% during the fourth quarter. Nordea Investment Management AB now owns 70,204 shares of the industrial products company’s stock worth $3,634,000 after acquiring an additional 3,447 shares during the last quarter. Amalgamated Bank grew its position in shares of Tetra Tech by 111.9% during the fourth quarter. Amalgamated Bank now owns 8,638 shares of the industrial products company’s stock worth $447,000 after acquiring an additional 4,562 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Tetra Tech by 42.1% during the fourth quarter. Millennium Management LLC now owns 302,340 shares of the industrial products company’s stock worth $15,652,000 after acquiring an additional 89,503 shares during the last quarter. Institutional investors own 88.50% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG 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.

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Analyst Recommendations for Tetra Tech (NASDAQ:TTEK)

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