Tetra Tech (NASDAQ:TTEK) PT Raised to $233.00 at Royal Bank of Canada

Tetra Tech (NASDAQ:TTEK) had its price target boosted by stock analysts at Royal Bank of Canada from $203.00 to $233.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.15% from the stock’s previous close.

A number of other research analysts have also recently commented on TTEK. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Thursday. Maxim Group increased their price target on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird lifted their price objective on shares of Tetra Tech from $180.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. Finally, KeyCorp assumed coverage on Tetra Tech in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech currently has a consensus rating of “Moderate Buy” and an average target price of $221.40.

Tetra Tech Price Performance

Tetra Tech stock opened at $207.75 on Friday. The stock has a market capitalization of $11.11 billion, a P/E ratio of 42.05 and a beta of 0.93. Tetra Tech has a 1 year low of $132.29 and a 1 year high of $208.76. The company’s fifty day moving average price is $186.65 and its 200 day moving average price is $171.67. 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 earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.17 EPS. As a group, equities research analysts anticipate that Tetra Tech will post 6.2 earnings per share for the current fiscal year.

Insider Activity

In other news, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction that occurred on 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 sale, the director now owns 14,485 shares in the company, valued at $2,390,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director J Kenneth Thompson sold 8,400 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 14,485 shares of the company’s stock, valued at $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 valued at $5,487,673. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

A number of hedge funds have recently added to or reduced their stakes in TTEK. GAMMA Investing LLC boosted its holdings in shares of Tetra Tech by 25.8% in the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after buying an additional 62 shares during the period. AtonRa Partners grew its holdings in shares of Tetra Tech by 1.9% during the fourth quarter. AtonRa Partners now owns 3,454 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 65 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Tetra Tech by 2.5% during the 4th quarter. Arkadios Wealth Advisors now owns 3,060 shares of the industrial products company’s stock worth $511,000 after purchasing an additional 74 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Tetra Tech by 3.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 75 shares during the last quarter. Finally, Guinness Asset Management LTD boosted its position in Tetra Tech by 2.6% during the 3rd quarter. Guinness Asset Management LTD now owns 3,332 shares of the industrial products company’s stock valued at $507,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds 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.