Tetra Tech (NASDAQ:TTEK) Hits 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 Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $211.51 and last traded at $211.09, with a volume of 14185 shares changing hands. The stock had previously closed at $207.75.

A number of other analysts have also recently weighed in on the stock. Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday. Royal Bank of Canada increased their price target on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird increased their price target on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday. KeyCorp raised their target price on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Maxim Group raised their target price on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $221.40.

Insider Activity

In other news, SVP Brian N. Carter sold 5,580 shares of the 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 transaction, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,475,707.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Brian N. Carter sold 5,580 shares of the company’s stock in a transaction that occurred on 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 directly owns 8,360 shares in the company, valued at approximately $1,475,707.20. The disclosure for this sale can be found here. Insiders sold 16,595 shares of company stock worth $2,925,482 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Tetra Tech

A number of large investors have recently made changes to their positions in TTEK. Rise Advisors LLC acquired a new position in Tetra Tech in the 1st quarter valued at $27,000. Contravisory Investment Management Inc. acquired a new position in Tetra Tech in the fourth quarter valued at $26,000. Jones Financial Companies Lllp purchased a new position in Tetra Tech during the fourth quarter worth about $33,000. Principal Securities Inc. acquired a new stake in Tetra Tech in the 4th quarter worth about $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in Tetra Tech in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Stock Performance

The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93. The stock’s 50 day moving average price is $186.65 and its 200 day moving average price is $171.74.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.17 EPS. The business’s quarterly revenue was down 9.5% on a year-over-year basis. On average, analysts expect that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.29 dividend. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date is Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.55%. Tetra Tech’s dividend payout ratio (DPR) is presently 21.05%.

About Tetra Tech

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.