Tetra Tech, Inc. (NASDAQ:TTEK) – Research analysts at KeyCorp cut their FY2020 earnings estimates for shares of Tetra Tech in a note issued to investors on Tuesday, October 22nd, according to Zacks Investment Research. KeyCorp analyst S. Eastman now expects that the industrial products company will earn $3.42 per share for the year, down from their prior estimate of $3.56.
A number of other equities analysts have also recently issued reports on the stock. Maxim Group boosted their price objective on shares of Tetra Tech from $92.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday. BidaskClub cut shares of Tetra Tech from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th. ValuEngine cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Roth Capital boosted their price target on shares of Tetra Tech from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Cfra cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $86.00.
Shares of TTEK traded up $0.75 during mid-day trading on Friday, reaching $87.10. 429,800 shares of the stock traded hands, compared to its average volume of 258,869. The firm has a fifty day moving average price of $86.41 and a 200 day moving average price of $78.99. Tetra Tech has a 1 year low of $48.52 and a 1 year high of $90.34. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.08. The company has a current ratio of 1.43, a quick ratio of 1.73 and a debt-to-equity ratio of 0.27.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, November 13th. The industrial products company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $640.18 million during the quarter, compared to analyst estimates of $636.89 million. Tetra Tech had a net margin of 5.11% and a return on equity of 17.92%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Tetra Tech by 62.0% in the third quarter. Parallel Advisors LLC now owns 337 shares of the industrial products company’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in Tetra Tech during the third quarter valued at approximately $33,000. Winthrop Partners WNY LLC bought a new position in Tetra Tech during the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC bought a new position in Tetra Tech during the third quarter valued at approximately $45,000. Finally, Meeder Asset Management Inc. lifted its position in Tetra Tech by 82.7% during the second quarter. Meeder Asset Management Inc. now owns 625 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors own 85.73% of the company’s stock.
In other Tetra Tech news, SVP Richard A. Lemmon sold 3,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $83.00, for a total value of $249,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Craig L. Christensen sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.43, for a total transaction of $402,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,059 shares of company stock worth $8,430,166. Corporate insiders own 3.00% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, November 29th. Tetra Tech’s dividend payout ratio (DPR) is presently 18.93%.
Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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