Wunderlich Reaffirms Buy Rating for TETRA Technologies (TTI)
TETRA Technologies (NYSE:TTI)‘s stock had its “buy” rating reissued by equities researchers at Wunderlich in a research report issued on Tuesday. They currently have a $17.00 target price on the stock, up from their previous target price of $15.00. Wunderlich’s target price would indicate a potential upside of 44.07% from the stock’s previous close.
The analysts wrote, “TETRA Technologies, Inc. (TTI) has stepped up the distribution timetable of its Compressco Partners, LP (GSJK-NR) ownership and more specifically the potential impact from increased distributions as its general partner (GP) ownership becomes more valuable. While admittedly complicated, at least for us, the company has been able to show the value creation opportunity at GSJK that accelerated with the recent acquisition of privately-held Compressor Systems, Inc. (CSI). This improvement in TETRA’s Production Enhancement Division should begin to show during 4Q14 as the repeatable, high margin business should be more impactful. Further, the Maritech liability is being reduced (hopefully to zero soon) and the offshore segment is becoming less impactful due to its variability.”
TETRA Technologies (NYSE:TTI) traded down 1.36% during mid-day trading on Tuesday, hitting $11.64. The stock had a trading volume of 389,531 shares. TETRA Technologies has a 1-year low of $9.25 and a 1-year high of $13.43. The stock has a 50-day moving average of $11.29 and a 200-day moving average of $11.80. The company’s market cap is $926.0 million.
TETRA Technologies (NYSE:TTI) last released its earnings data on Friday, August 8th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.19 by $0.13. The company had revenue of $242.50 million for the quarter, compared to the consensus estimate of $249.40 million. During the same quarter last year, the company posted ($0.04) earnings per share. TETRA Technologies’s revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that TETRA Technologies will post $0.51 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Howard Weil raised their price target on shares of TETRA Technologies from $14.00 to $15.00 in a research note on Friday. They now have a “sector perform” rating on the stock. Separately, analysts at Cowen and Company upgraded shares of TETRA Technologies from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 27th. They now have a $16.00 price target on the stock, up previously from $14.00. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of TETRA Technologies in a research note on Monday, August 11th. They now have a $13.00 price target on the stock, down previously from $14.00. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.50.
TETRA Technologies, Inc is oil and gas services company, focused on completion fluids and other products, production testing, wellhead compression, and selected offshore services including well plugging and abandonment, decommissioning, and diving.
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