Tetra Tech, Inc. (TTEK) Expected to Post Quarterly Sales of $518.45 Million
Analysts forecast that Tetra Tech, Inc. (NASDAQ:TTEK) will report $518.45 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Tetra Tech’s earnings. The highest sales estimate is $546.78 million and the lowest is $510.00 million. Tetra Tech reported sales of $530.85 million during the same quarter last year, which indicates a negative year over year growth rate of 2.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 8th.
On average, analysts expect that Tetra Tech will report full year sales of $518.45 million for the current year, with estimates ranging from $2.01 billion to $2.05 billion. For the next year, analysts expect that the business will post sales of $2.10 billion per share, with estimates ranging from $2.08 billion to $2.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Tetra Tech.
A number of research analysts have recently commented on TTEK shares. Roth Capital set a $52.00 price target on Tetra Tech and gave the company a “buy” rating in a report on Wednesday, August 2nd. Canaccord Genuity reissued a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, August 4th. BidaskClub lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research lowered Tetra Tech from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a report on Thursday, September 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $48.86.
In related news, insider Ronald J. Chu sold 696 shares of Tetra Tech stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $50.00, for a total transaction of $34,800.00. Following the transaction, the insider now directly owns 37,800 shares of the company’s stock, valued at $1,890,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ronald J. Chu sold 14,112 shares of Tetra Tech stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $50.00, for a total value of $705,600.00. Following the transaction, the insider now directly owns 51,216 shares in the company, valued at $2,560,800. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its holdings in Tetra Tech by 194.9% during the second quarter. Advisor Group Inc. now owns 3,279 shares of the industrial products company’s stock worth $150,000 after acquiring an additional 2,167 shares during the period. Strs Ohio boosted its position in shares of Tetra Tech by 45.2% in the 2nd quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 1,400 shares during the period. Tocqueville Asset Management L.P. acquired a new position in shares of Tetra Tech in the 2nd quarter valued at $206,000. Teacher Retirement System of Texas acquired a new position in shares of Tetra Tech in the 2nd quarter valued at $210,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Tetra Tech in the 2nd quarter valued at $217,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tetra Tech (NASDAQ:TTEK) opened at $48.60 on Monday. The stock has a market capitalization of $2,748.38, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.34. Tetra Tech has a one year low of $36.96 and a one year high of $50.00.
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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