William Blair Equities Analysts Increase Earnings Estimates for Tetra Tech, Inc. (NASDAQ:TTEK)

Tetra Tech, Inc. (NASDAQ:TTEK) – Stock analysts at William Blair raised their Q3 2024 EPS estimates for shares of Tetra Tech in a report issued on Thursday, May 2nd. William Blair analyst T. Mulrooney now anticipates that the industrial products company will post earnings per share of $1.53 for the quarter, up from their previous estimate of $1.51. The consensus estimate for Tetra Tech’s current full-year earnings is $6.20 per share. William Blair also issued estimates for Tetra Tech’s Q4 2024 earnings at $1.86 EPS, FY2024 earnings at $6.20 EPS and FY2025 earnings at $7.22 EPS.

A number of other analysts have also commented on TTEK. Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Thursday, May 2nd. KeyCorp raised their price target on shares of Tetra Tech from $209.00 to $219.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird raised their target price on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Maxim Group boosted their price target on Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.40.

Tetra Tech Stock Performance

Tetra Tech stock opened at $212.88 on Monday. Tetra Tech has a fifty-two week low of $132.29 and a fifty-two week high of $216.24. The company has a market capitalization of $11.39 billion, a price-to-earnings ratio of 43.09 and a beta of 0.93. The stock has a fifty day moving average of $188.08 and a two-hundred day moving average of $172.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.25 and a current ratio of 1.24.

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

Institutional Trading of Tetra Tech

A number of institutional investors have recently added to or reduced their stakes in TTEK. Stifel Financial Corp boosted its position in shares of Tetra Tech by 10.7% in the third quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock worth $4,077,000 after buying an additional 2,593 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Tetra Tech by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock valued at $12,921,000 after buying an additional 205 shares during the period. WCM Investment Management LLC lifted its position in Tetra Tech by 2.5% during the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after acquiring an additional 8,394 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Tetra Tech by 95.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock worth $2,733,000 after acquiring an additional 8,791 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $82,209,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction of $984,981.60. Following the completion of the sale, the senior vice president now directly owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $176.52, for a total transaction 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 filing with the SEC, which can be accessed through the SEC website. Also, 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 owns 29,890 shares in the company, valued at approximately $5,250,776.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,595 shares of company stock valued at $2,925,482. Insiders own 0.61% of the company’s stock.

Tetra Tech Increases Dividend

The business also recently announced 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 represents a $1.16 dividend on an annualized basis and a yield of 0.54%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s payout ratio is presently 21.05%.

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.