StockNews.com Downgrades Tetra Tech (NASDAQ:TTEK) to Hold

Tetra Tech (NASDAQ:TTEK) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

TTEK has been the subject of several other research reports. Robert W. Baird upped their price target on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. KeyCorp boosted their price objective on Tetra Tech from $46.80 to $49.40 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, 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 research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.16.

Tetra Tech Trading Up 0.7 %

Shares of TTEK stock opened at $47.10 on Monday. The company has a market cap of $2.52 billion, a P/E ratio of 9.53 and a beta of 0.95. The stock has a 50 day simple moving average of $45.20 and a two-hundred day simple moving average of $41.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. Tetra Tech has a fifty-two week low of $28.67 and a fifty-two week high of $48.26.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data 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 firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.08 billion. Tetra Tech had a return on equity of 21.50% and a net margin of 5.72%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 earnings per share. Research analysts forecast that Tetra Tech will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the sale, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tetra Tech news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the transaction, the director now directly owns 143,200 shares in the company, valued at approximately $6,655,936. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,370 shares of company stock valued at $10,880,243. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently modified their holdings of the company. CWM LLC boosted its holdings in Tetra Tech by 20.2% during the 2nd quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 51 shares during the period. ELCO Management Co. LLC boosted its holdings 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 acquiring an additional 60 shares during the period. GAMMA Investing LLC boosted its holdings in Tetra Tech by 25.8% during the 1st quarter. GAMMA Investing LLC now owns 302 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 62 shares during the period. CIBC Asset Management Inc boosted its holdings in Tetra Tech by 4.8% during the 2nd quarter. CIBC Asset Management Inc now owns 1,524 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 70 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Tetra Tech by 3.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,468 shares of the industrial products company’s stock valued at $456,000 after acquiring an additional 75 shares during the period. 93.89% of the stock is currently owned by institutional investors.

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.