Tetra Tech, Inc. (TTEK) Given Average Recommendation of “Buy” by Brokerages
Tetra Tech, Inc. (NASDAQ:TTEK) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $47.50.
Several equities research analysts have commented on TTEK shares. Zacks Investment Research upgraded Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Tuesday, July 4th. Stifel Nicolaus reiterated a “hold” rating and set a $50.00 price objective on shares of Tetra Tech in a research note on Friday, July 7th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price objective on shares of Tetra Tech in a research note on Wednesday, June 7th. Sidoti reiterated a “buy” rating and set a $58.00 price objective (up from $55.00) on shares of Tetra Tech in a research note on Sunday, May 14th. Finally, BidaskClub lowered Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st.
In other Tetra Tech news, insider Richard A. Lemmon sold 16,750 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $46.30, for a total transaction of $775,525.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian N. Carter sold 3,396 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $46.20, for a total value of $156,895.20. Following the transaction, the senior vice president now owns 7,243 shares in the company, valued at $334,626.60. The disclosure for this sale can be found here. Insiders sold 354,464 shares of company stock worth $16,197,699 over the last quarter. 4.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legato Capital Management LLC boosted its position in Tetra Tech by 3,985.0% in the first quarter. Legato Capital Management LLC now owns 68,015 shares of the industrial products company’s stock worth $1,665,000 after buying an additional 66,350 shares during the period. Louisiana State Employees Retirement System boosted its position in Tetra Tech by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 23,300 shares of the industrial products company’s stock worth $952,000 after buying an additional 400 shares during the period. First National Bank of Omaha boosted its position in Tetra Tech by 30.8% in the first quarter. First National Bank of Omaha now owns 28,776 shares of the industrial products company’s stock worth $1,175,000 after buying an additional 6,775 shares during the period. Bank of Montreal Can boosted its position in Tetra Tech by 27.7% in the first quarter. Bank of Montreal Can now owns 9,502 shares of the industrial products company’s stock worth $389,000 after buying an additional 2,063 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new position in Tetra Tech during the first quarter worth approximately $792,000. Institutional investors own 84.87% of the company’s stock.
Shares of Tetra Tech (NASDAQ TTEK) traded up 0.54% during trading on Monday, reaching $46.35. The company had a trading volume of 199,847 shares. The stock’s 50-day moving average price is $45.75 and its 200-day moving average price is $43.01. Tetra Tech has a 52 week low of $30.59 and a 52 week high of $47.75. The company has a market capitalization of $2.65 billion, a PE ratio of 24.46 and a beta of 1.02.
Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Tetra Tech had a return on equity of 13.70% and a net margin of 4.04%. The company had revenue of $511.95 million during the quarter, compared to analyst estimates of $491.60 million. During the same period in the previous year, the business earned $0.37 EPS. Tetra Tech’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts expect that Tetra Tech will post $2.22 EPS for the current fiscal year.
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Tetra Tech Company Profile
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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