Tetra Tech (TTEK) Given New $75.00 Price Target at Roth Capital

Tetra Tech (NASDAQ:TTEK) had its price target boosted by Roth Capital from $66.00 to $75.00 in a research note released on Monday, The Fly reports. Roth Capital currently has a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued research reports about the company. Sidoti began coverage on Tetra Tech in a research report on Tuesday, April 9th. They issued a buy rating on the stock. ValuEngine raised Tetra Tech from a hold rating to a buy rating in a research report on Friday, February 8th. Zacks Investment Research raised Tetra Tech from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Friday, February 8th. BidaskClub raised Tetra Tech from a strong sell rating to a sell rating in a research report on Friday, April 19th. Finally, Maxim Group reaffirmed a buy rating and issued a $87.00 price target on shares of Tetra Tech in a research report on Wednesday, April 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $76.83.

TTEK stock opened at $67.35 on Monday. The company has a current ratio of 1.60, a quick ratio of 1.79 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 1.50 and a beta of 1.18. Tetra Tech has a 1 year low of $48.52 and a 1 year high of $72.56.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The company had revenue of $585.40 million for the quarter, compared to analyst estimates of $552.65 million. Tetra Tech had a return on equity of 16.71% and a net margin of 5.44%. Tetra Tech’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Equities analysts forecast that Tetra Tech will post 3.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.12. Tetra Tech’s dividend payout ratio (DPR) is 18.18%.

In other news, SVP Craig L. Christensen sold 624 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $65.00, for a total transaction of $40,560.00. Following the sale, the senior vice president now owns 34,317 shares of the company’s stock, valued at approximately $2,230,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Craig L. Christensen sold 625 shares of Tetra Tech stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $57.50, for a total value of $35,937.50. Following the transaction, the senior vice president now directly owns 35,566 shares in the company, valued at approximately $2,045,045. The disclosure for this sale can be found here. Insiders have sold a total of 63,122 shares of company stock worth $3,787,007 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Tetra Tech by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 841,336 shares of the industrial products company’s stock worth $57,464,000 after buying an additional 8,402 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Tetra Tech by 154.8% in the 3rd quarter. AQR Capital Management LLC now owns 16,249 shares of the industrial products company’s stock valued at $1,110,000 after purchasing an additional 9,872 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Tetra Tech by 2.6% in the 3rd quarter. Teachers Advisors LLC now owns 108,679 shares of the industrial products company’s stock valued at $7,423,000 after purchasing an additional 2,724 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Tetra Tech by 7.1% in the 3rd quarter. Legal & General Group Plc now owns 128,715 shares of the industrial products company’s stock valued at $8,769,000 after purchasing an additional 8,492 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Tetra Tech by 51.8% in the 3rd quarter. Morgan Stanley now owns 520,396 shares of the industrial products company’s stock valued at $35,544,000 after purchasing an additional 177,506 shares in the last quarter. 89.61% of the stock is currently owned by institutional investors.

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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