Tetra Tech’s (TTEK) Outperform Rating Reiterated at Boenning Scattergood
Tetra Tech Inc. (NASDAQ:TTEK)‘s stock had its “outperform” rating reiterated by analysts at Boenning Scattergood in a research report issued on Friday.
A number of other brokerages also recently weighed in on TTEK. Canaccord Genuity reiterated a “buy” rating and issued a $37.00 price target on shares of Tetra Tech in a report on Friday, July 29th. Zacks Investment Research lowered Tetra Tech from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. Finally, FBR & Co boosted their price target on Tetra Tech from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.40.
Shares of Tetra Tech (NASDAQ:TTEK) traded up 0.08% during midday trading on Friday, hitting $36.41. The company had a trading volume of 64,731 shares. The stock’s 50-day moving average price is $35.49 and its 200-day moving average price is $32.02. Tetra Tech has a 12 month low of $22.85 and a 12 month high of $36.76. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 102.28 and a beta of 1.21.
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Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The company had revenue of $667 million for the quarter, compared to the consensus estimate of $498.79 million. During the same period in the previous year, the business earned $0.43 EPS. Tetra Tech’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts forecast that Tetra Tech will post $1.88 EPS for the current year.
In related news, SVP Craig L. Christensen sold 16,750 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $586,250.00. Following the completion of the sale, the senior vice president now owns 45,891 shares in the company, valued at approximately $1,606,185. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ronald J. Chu sold 29,413 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $32.00, for a total value of $941,216.00. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Catawba Capital Management VA acquired a new stake in shares of Tetra Tech during the third quarter valued at $391,000. Macquarie Group Ltd. boosted its position in shares of Tetra Tech by 30.2% in the second quarter. Macquarie Group Ltd. now owns 693,598 shares of the company’s stock worth $21,325,000 after buying an additional 160,774 shares during the last quarter. Mason Street Advisors LLC bought a new position in shares of Tetra Tech during the second quarter worth about $348,000. Public Employees Retirement System of Ohio boosted its position in shares of Tetra Tech by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 51,564 shares of the company’s stock worth $1,585,000 after buying an additional 150 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Tetra Tech by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 310,550 shares of the company’s stock worth $9,548,000 after buying an additional 7,185 shares during the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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