Tetra Tech (NASDAQ:TTEK) Hits New 12-Month High at $161.79

Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $161.79 and last traded at $160.85, with a volume of 199 shares changing hands. The stock had previously closed at $159.80.

Separately, Zacks Investment Research lowered shares of Tetra Tech from a “buy” rating to a “hold” rating and set a $149.00 target price for the company. in a research report on Friday, August 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $142.80.

The firm has a market capitalization of $8.68 billion, a P/E ratio of 44.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82. The stock’s 50-day simple moving average is $145.81 and its two-hundred day simple moving average is $133.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.36 and a quick ratio of 1.36.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 28th. The industrial products company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. Tetra Tech had a net margin of 6.33% and a return on equity of 17.81%. The business had revenue of $638.04 million during the quarter, compared to analyst estimates of $623.30 million. On average, analysts forecast that Tetra Tech, Inc. will post 3.73 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, August 19th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.54%.

Tetra Tech declared that its board has approved a stock repurchase program on Thursday, October 7th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 4.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In other Tetra Tech news, SVP Bernard Teufele sold 860 shares of the business’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $138.42, for a total transaction of $119,041.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director J Kenneth Thompson sold 4,200 shares of the business’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $152.03, for a total transaction of $638,526.00. The disclosure for this sale can be found here. Insiders sold 16,066 shares of company stock worth $2,395,443 in the last three months. Insiders own 1.65% of the company’s stock.

A number of hedge funds have recently bought and sold shares of TTEK. Acadian Asset Management LLC bought a new position in Tetra Tech during the first quarter valued at $27,000. BDO Wealth Advisors LLC bought a new position in shares of Tetra Tech in the first quarter worth about $29,000. Sound Income Strategies LLC bought a new position in shares of Tetra Tech in the second quarter worth about $35,000. KB Financial Partners LLC bought a new position in shares of Tetra Tech in the first quarter worth about $37,000. Finally, Maverick Capital Ltd. bought a new position in shares of Tetra Tech in the second quarter worth about $62,000. Institutional investors and hedge funds own 83.25% of the company’s stock.

Tetra Tech Company Profile (NASDAQ:TTEK)

Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.

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