Robert W. Baird Raises Tetra Tech (NASDAQ:TTEK) Price Target to $200.00

Tetra Tech (NASDAQ:TTEK) had its target price lifted by investment analysts at Robert W. Baird from $180.00 to $200.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 3.90% from the stock’s previous close.

A number of other equities analysts have also commented 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 report on Friday, February 2nd. Maxim Group raised their price target on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, KeyCorp began coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.00.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $192.49 on Thursday. The stock has a fifty day simple moving average of $185.52 and a two-hundred day simple moving average of $171.09. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $196.48. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 44.56 and a beta of 0.93. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.61.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. Analysts anticipate that Tetra Tech will post 6.07 earnings per share for the current year.

Insider Activity at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction on Monday, February 5th. The stock was 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 owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction on Monday, February 5th. The stock was 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 owns 14,485 shares of the company’s stock, valued at $2,390,025. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven M. Burdick sold 7,128 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares in the company, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,123 shares of company stock valued at $5,487,673. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of large investors have recently added to or reduced their stakes in TTEK. Contravisory Investment Management Inc. purchased a new stake in Tetra Tech during the fourth quarter valued at about $26,000. Rise Advisors LLC purchased a new stake in Tetra Tech during the first quarter valued at about $27,000. Jones Financial Companies Lllp purchased a new stake in Tetra Tech during the fourth quarter valued at about $33,000. Principal Securities Inc. purchased a new stake in Tetra Tech during the fourth quarter valued at about $36,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Tetra Tech in the third quarter worth about $37,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.