Tetra Tech, Inc. (NASDAQ:TTEK) Sees Significant Growth in Short Interest

Tetra Tech, Inc. (NASDAQ:TTEK) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,060,000 shares, an increase of 24.4% from the March 31st total of 852,100 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 270,300 shares, the short-interest ratio is currently 3.9 days.

Insider Activity at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the transaction, the director now owns 14,485 shares in the company, valued at approximately $2,390,025. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the sale, the director now directly owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,123 shares of company stock worth $5,487,673. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTEK. Oak Thistle LLC bought a new position in Tetra Tech in the 3rd quarter valued at approximately $213,000. Asset Management One Co. Ltd. lifted its stake in Tetra Tech by 0.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 31,695 shares of the industrial products company’s stock valued at $4,819,000 after purchasing an additional 180 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Tetra Tech by 0.5% in the 3rd quarter. Copeland Capital Management LLC now owns 471,176 shares of the industrial products company’s stock valued at $71,633,000 after purchasing an additional 2,552 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Tetra Tech by 6.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,046 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 290 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Tetra Tech by 7.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,856 shares of the industrial products company’s stock valued at $282,000 after purchasing an additional 134 shares during the last quarter. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $192.50 on Friday. The company has a 50 day moving average of $184.55 and a 200-day moving average of $170.44. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $194.99. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.30 billion, a PE ratio of 44.56 and a beta of 0.96.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. During the same quarter in the prior year, the firm posted $1.34 EPS. As a group, equities research analysts forecast that Tetra Tech will post 6.07 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech’s payout ratio is 24.07%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TTEK. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. KeyCorp began coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average target price of $197.25.

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.