Tetra Tech (NASDAQ:TTEK) Share Price Crosses Above 200-Day Moving Average of $204.35

Tetra Tech, Inc. (NASDAQ:TTEK) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $204.35 and traded as high as $233.23. Tetra Tech shares last traded at $233.23, with a volume of 170,820 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the company. KeyCorp boosted their price objective on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Maxim Group boosted their price objective on Tetra Tech from $46.80 to $53.60 and gave the stock a “buy” rating in a report on Thursday, May 16th. Robert W. Baird boosted their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price objective on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.16.

Tetra Tech Stock Down 3.4 %

The company has a market cap of $12.06 billion, a price-to-earnings ratio of 45.59 and a beta of 0.95. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $47.46 and a two-hundred day moving average price of $42.19.

Shares of Tetra Tech are going to split on the morning of Monday, September 9th. The 5-1 split was announced on Wednesday, July 31st. The newly created shares will be distributed to shareholders after the market closes on Friday, September 6th.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities analysts predict that Tetra Tech, Inc. will post 6.24 earnings per share for the current year.

Tetra Tech Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.058 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 0.10%. Tetra Tech’s payout ratio is 23.48%.

Insider Activity at Tetra Tech

In related news, CEO Dan L. Batrack sold 89,620 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the completion of the sale, the chief executive officer now owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Tetra Tech news, EVP Leslie L. Shoemaker sold 55,805 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $42.37, for a total transaction of $2,364,234.63. Following the completion of the sale, the executive vice president now owns 374,435 shares of the company’s stock, valued at $15,863,313.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan L. Batrack sold 89,620 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total value of $4,081,653.28. Following the sale, the chief executive officer now directly owns 124,385 shares of the company’s stock, valued at approximately $5,664,990.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,425 shares of company stock valued at $7,611,238. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new position in shares of Tetra Tech during the second quarter worth approximately $995,000. Cetera Investment Advisers lifted its holdings in shares of Tetra Tech by 17.8% during the second quarter. Cetera Investment Advisers now owns 10,137 shares of the industrial products company’s stock worth $2,073,000 after buying an additional 1,532 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Tetra Tech by 37.1% during the second quarter. Point72 Asset Management L.P. now owns 4,800 shares of the industrial products company’s stock worth $982,000 after buying an additional 1,300 shares during the last quarter. Quarry LP acquired a new position in shares of Tetra Tech during the second quarter worth approximately $54,000. Finally, Algert Global LLC lifted its holdings in shares of Tetra Tech by 41.1% during the second quarter. Algert Global LLC now owns 21,327 shares of the industrial products company’s stock worth $4,361,000 after buying an additional 6,214 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.