Piper Jaffray Companies Reiterates $4.00 Price Target for Tetra Technologies, Inc. (TTI)
Tetra Technologies, Inc. (NYSE:TTI) received a $4.00 price objective from equities research analysts at Piper Jaffray Companies in a report released on Wednesday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 46.52% from the company’s previous close.
TTI has been the subject of a number of other research reports. Scotiabank set a $4.00 price target on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded Tetra Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. ValuEngine lowered Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. BidaskClub lowered Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada set a $3.00 price target on Tetra Technologies and gave the company a “hold” rating in a research note on Saturday, October 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $5.17.
Shares of Tetra Technologies (TTI) traded up 1.11% on Wednesday, reaching $2.73. The company’s stock had a trading volume of 567,139 shares. The firm’s 50-day moving average price is $2.45 and its 200-day moving average price is $2.92. The stock’s market cap is $316.40 million. Tetra Technologies has a 12 month low of $1.85 and a 12 month high of $6.34.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The firm had revenue of $208.37 million for the quarter, compared to analyst estimates of $204.19 million. During the same period in the prior year, the firm posted ($0.15) EPS. The business’s revenue was up 18.6% compared to the same quarter last year. On average, analysts forecast that Tetra Technologies will post ($0.18) earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. lifted its holdings in Tetra Technologies by 1.6% in the first quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock valued at $789,000 after acquiring an additional 3,080 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Tetra Technologies in the second quarter valued at approximately $356,000. Viking Fund Management LLC lifted its holdings in Tetra Technologies by 13.2% in the second quarter. Viking Fund Management LLC now owns 600,000 shares of the oil and gas company’s stock valued at $1,674,000 after acquiring an additional 70,000 shares during the last quarter. Comerica Bank lifted its holdings in Tetra Technologies by 35.1% in the first quarter. Comerica Bank now owns 164,397 shares of the oil and gas company’s stock valued at $559,000 after acquiring an additional 42,721 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Tetra Technologies by 36.5% in the first quarter. Citadel Advisors LLC now owns 886,229 shares of the oil and gas company’s stock valued at $3,606,000 after acquiring an additional 237,132 shares during the last quarter. Institutional investors and hedge funds own 91.01% of the company’s stock.
About Tetra Technologies
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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