Analysts Set Tetra Tech, Inc. (NASDAQ:TTEK) Price Target at $236.00

Tetra Tech, Inc. (NASDAQ:TTEK) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $236.60.

Several brokerages recently commented on TTEK. Royal Bank of Canada increased their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Robert W. Baird raised their price target on shares of Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, May 2nd. Finally, Maxim Group boosted their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th.

Institutional Trading of Tetra Tech

A number of hedge funds have recently bought and sold shares of TTEK. Contravisory Investment Management Inc. bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $26,000. Rise Advisors LLC bought a new stake in Tetra Tech during the first quarter valued at approximately $27,000. Jones Financial Companies Lllp purchased a new stake in Tetra Tech during the fourth quarter valued at approximately $33,000. Principal Securities Inc. bought a new position in Tetra Tech in the fourth quarter worth approximately $36,000. Finally, GAMMA Investing LLC purchased a new position in shares of Tetra Tech during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

TTEK stock opened at $217.88 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $197.04 and a 200-day moving average price of $178.35. Tetra Tech has a 52-week low of $132.29 and a 52-week high of $221.40. The firm has a market capitalization of $11.66 billion, a price-to-earnings ratio of 44.11 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. Equities research analysts forecast that Tetra Tech will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.53%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s dividend payout ratio is presently 23.48%.

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.