Tetra Tech (NASDAQ:TTEK)‘s stock had its “buy” rating reissued by equities researchers at Maxim Group in a research note issued on Friday. They currently have a $87.00 price objective on the industrial products company’s stock. Maxim Group’s price target would indicate a potential upside of 63.35% from the stock’s previous close.
The analysts wrote, “In TTEK’s upcoming earnings report on January 30th, post-close, we forecast $0.61 relative to the $0.62 consensus and within the guidance range of $0.60-$0.65.””
A number of other equities research analysts also recently issued reports on TTEK. BidaskClub downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Saturday, November 17th. Boenning Scattergood restated a “buy” rating and set a $80.00 price target on shares of Tetra Tech in a research note on Thursday, December 6th. Zacks Investment Research upgraded Tetra Tech from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Saturday, January 5th. Finally, Robert W. Baird boosted their price target on Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $70.43.
NASDAQ TTEK traded down $0.26 during trading hours on Friday, hitting $53.26. The company’s stock had a trading volume of 373,564 shares, compared to its average volume of 325,721. Tetra Tech has a 12 month low of $44.65 and a 12 month high of $72.56. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.70 and a current ratio of 1.70.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The company had revenue of $563.67 million during the quarter, compared to the consensus estimate of $571.33 million. During the same period last year, the company earned $0.63 EPS. Tetra Tech’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that Tetra Tech will post 2.88 earnings per share for the current fiscal year.
In related news, Director Kirsten M. Volpi sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $66.94, for a total transaction of $80,328.00. Following the completion of the transaction, the director now directly owns 8,801 shares in the company, valued at approximately $589,138.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Dan L. Batrack sold 44,869 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $65.11, for a total value of $2,921,420.59. Following the transaction, the chief executive officer now owns 305,800 shares of the company’s stock, valued at $19,910,638. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,382 shares of company stock valued at $4,830,265. 3.40% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Tetra Tech by 3.1% during the 3rd quarter. BlackRock Inc. now owns 8,418,074 shares of the industrial products company’s stock valued at $574,955,000 after acquiring an additional 251,711 shares during the period. Vanguard Group Inc. grew its stake in shares of Tetra Tech by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,584,328 shares of the industrial products company’s stock valued at $381,410,000 after acquiring an additional 84,426 shares during the period. Vanguard Group Inc grew its stake in shares of Tetra Tech by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 5,584,328 shares of the industrial products company’s stock valued at $381,410,000 after acquiring an additional 84,426 shares during the period. KAMES CAPITAL plc grew its stake in shares of Tetra Tech by 2.6% during the 3rd quarter. KAMES CAPITAL plc now owns 1,480,699 shares of the industrial products company’s stock valued at $101,132,000 after acquiring an additional 37,262 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in Tetra Tech by 6.0% in the 3rd quarter. Macquarie Group Ltd. now owns 971,031 shares of the industrial products company’s stock worth $66,322,000 after purchasing an additional 55,171 shares in the last quarter. Institutional investors own 84.49% of the company’s stock.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.
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