Analysts Set Tetra Tech, Inc. (NASDAQ:TTEK) Price Target at $49.32

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $49.32.

A number of brokerages have commented on TTEK. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. KeyCorp reduced their target price on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Finally, Robert W. Baird increased their target price on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently bought and sold shares of the business. CWM LLC grew its position in shares of Tetra Tech by 20.2% in the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock worth $62,000 after buying an additional 51 shares during the last quarter. ELCO Management Co. LLC increased its position in Tetra Tech by 4.8% during the 2nd quarter. ELCO Management Co. LLC now owns 1,313 shares of the industrial products company’s stock valued at $268,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc raised its stake in Tetra Tech by 4.8% in the second quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after buying an additional 70 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Tetra Tech by 4.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock worth $413,000 after acquiring an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Tetra Tech by 0.8% in the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock worth $2,296,000 after acquiring an additional 86 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Stock Up 0.3 %

Shares of TTEK stock opened at $42.41 on Friday. The company has a 50 day simple moving average of $45.96 and a two-hundred day simple moving average of $44.54. The stock has a market cap of $11.35 billion, a P/E ratio of 34.42 and a beta of 0.89. Tetra Tech has a 12 month low of $31.61 and a 12 month high of $51.20. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.55%. Tetra Tech’s payout ratio is currently 18.67%.

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.