Tetra Tech (NASDAQ:TTEK) Reaches New 1-Year High After Analyst Upgrade

Tetra Tech, Inc. (NASDAQ:TTEK)’s share price hit a new 52-week high during mid-day trading on Tuesday after Maxim Group raised their price target on the stock from $220.00 to $230.00. Maxim Group currently has a buy rating on the stock. Tetra Tech traded as high as $196.13 and last traded at $195.89, with a volume of 48578 shares changing hands. The stock had previously closed at $193.20.

A number of other research analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. KeyCorp began coverage on shares of Tetra Tech in a research note on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Insiders Place Their Bets

In other news, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the transaction, the chief financial officer now directly owns 37,405 shares in the company, valued at $6,172,199.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tetra Tech news, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares in the company, valued at $1,946,981.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at $6,172,199.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,123 shares of company stock worth $5,487,673. 0.61% of the stock is owned by insiders.

Institutional Trading of Tetra Tech

Several hedge funds and other institutional investors have recently made changes to their positions in TTEK. GAMMA Investing LLC grew its position in Tetra Tech by 25.8% during the first quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock worth $56,000 after buying an additional 62 shares during the period. AtonRa Partners grew its holdings in shares of Tetra Tech by 1.9% in the 4th quarter. AtonRa Partners now owns 3,454 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 65 shares during the period. Arkadios Wealth Advisors increased its stake in Tetra Tech by 2.5% in the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock valued at $511,000 after purchasing an additional 74 shares in the last quarter. Guinness Asset Management LTD raised its holdings in Tetra Tech by 2.6% during the third quarter. Guinness Asset Management LTD now owns 3,332 shares of the industrial products company’s stock worth $507,000 after purchasing an additional 83 shares during the last quarter. Finally, Hunter Associates Investment Management LLC boosted its position in Tetra Tech by 2.0% during the third quarter. Hunter Associates Investment Management LLC now owns 4,320 shares of the industrial products company’s stock worth $654,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Price Performance

The company has a market cap of $10.42 billion, a price-to-earnings ratio of 45.07 and a beta of 0.96. The company has a fifty day simple moving average of $185.18 and a two-hundred day simple moving average of $170.94. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $974.00 million. During the same period in the prior year, the company earned $1.34 EPS. On average, equities research analysts anticipate that Tetra Tech, Inc. will post 6.07 earnings per share for the current fiscal year.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.