Tetra Tech’s (TTEK) “Hold” Rating Reaffirmed at Stifel Nicolaus
Tetra Tech, Inc. (NASDAQ:TTEK)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a research report issued on Thursday. They currently have a $47.00 target price on the industrial products company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 8.67% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Roth Capital set a $52.00 price target on shares of Tetra Tech and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Boenning Scattergood reaffirmed an “outperform” rating on shares of Tetra Tech in a research note on Tuesday. Robert W. Baird reaffirmed a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a research note on Tuesday. BidaskClub downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Wednesday, June 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.50.
Shares of Tetra Tech (NASDAQ:TTEK) traded down 0.69% during trading on Thursday, reaching $43.25. 244,001 shares of the company were exchanged. The stock’s 50 day moving average is $43.14 and its 200 day moving average is $43.47. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 21.92 and a beta of 1.05. Tetra Tech has a 1-year low of $34.07 and a 1-year high of $48.35.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. The business had revenue of $498.47 million for the quarter, compared to analysts’ expectations of $535.18 million. Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. Tetra Tech’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. Equities analysts anticipate that Tetra Tech will post $2.11 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in TTEK. BlackRock Inc. raised its stake in shares of Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock valued at $332,349,000 after acquiring an additional 8,068,959 shares during the period. Koch Industries Inc. purchased a new stake in shares of Tetra Tech in the second quarter valued at $506,000. RidgeWorth Capital Management LLC raised its stake in shares of Tetra Tech by 32.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,398,176 shares of the industrial products company’s stock valued at $57,115,000 after acquiring an additional 343,222 shares during the period. Vanguard Group Inc. raised its stake in shares of Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock valued at $212,946,000 after acquiring an additional 302,821 shares during the period. Finally, Elk Creek Partners LLC purchased a new stake in shares of Tetra Tech in the first quarter valued at $10,794,000. 84.78% of the stock is currently owned by institutional investors and hedge funds.
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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