Tetra Technologies Inc. (TTI) Research Coverage Started at Wells Fargo & Co.
Equities researchers at Wells Fargo & Co. assumed coverage on shares of Tetra Technologies Inc. (NYSE:TTI) in a report issued on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
A number of other research analysts have also recently commented on TTI. Zacks Investment Research upgraded Tetra Technologies from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research report on Wednesday, July 13th. JPMorgan Chase & Co. set a $8.00 price target on Tetra Technologies and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Simmons restated an “overweight” rating and issued a $7.60 price target (up previously from $7.35) on shares of Tetra Technologies in a research report on Wednesday, August 10th. Morgan Stanley assumed coverage on Tetra Technologies in a research report on Wednesday, August 10th. They issued an “overweight” rating and a $10.00 price target on the stock. Finally, Credit Suisse Group AG set a $8.00 price objective on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $8.26.
Shares of Tetra Technologies (NYSE:TTI) opened at 5.85 on Tuesday. Tetra Technologies has a one year low of $4.62 and a one year high of $9.44. The company’s market capitalization is $542.32 million. The firm’s 50-day moving average price is $5.95 and its 200 day moving average price is $6.12.
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Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The company had revenue of $175.66 million for the quarter, compared to analysts’ expectations of $188.42 million. During the same quarter last year, the business earned $0.16 earnings per share. Tetra Technologies’s revenue was down 44.5% on a year-over-year basis. Analysts anticipate that Tetra Technologies will post ($0.48) earnings per share for the current year.
In other news, VP Keith L. Schilling sold 24,341 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the transaction, the vice president now directly owns 111,161 shares in the company, valued at $708,095.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.45% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Raymond James & Associates increased its position in shares of Tetra Technologies by 0.5% in the second quarter. Raymond James & Associates now owns 20,336 shares of the company’s stock worth $130,000 after buying an additional 93 shares during the period. Eqis Capital Management Inc. increased its position in shares of Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock worth $108,000 after buying an additional 166 shares during the period. Profund Advisors LLC increased its position in shares of Tetra Technologies by 1.1% in the second quarter. Profund Advisors LLC now owns 18,326 shares of the company’s stock worth $117,000 after buying an additional 208 shares during the period. American International Group Inc. increased its position in shares of Tetra Technologies by 0.9% in the second quarter. American International Group Inc. now owns 60,710 shares of the company’s stock worth $387,000 after buying an additional 534 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Tetra Technologies by 3.7% in the second quarter. Royal Bank of Canada now owns 48,301 shares of the company’s stock worth $308,000 after buying an additional 1,736 shares during the period. Institutional investors own 89.91% of the company’s stock.
Tetra Technologies Company Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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