Analysts Set Tetra Tech, Inc. (NASDAQ:TTEK) Target Price at $50.48

Tetra Tech, Inc. (NASDAQ:TTEK) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.32.

TTEK has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a research note on Friday. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday. Finally, KeyCorp lowered their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday.

Tetra Tech Stock Up 0.8 %

Shares of Tetra Tech stock opened at $41.27 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44. Tetra Tech has a 12-month low of $30.92 and a 12-month high of $51.20. The company has a market cap of $11.05 billion, a P/E ratio of 33.55 and a beta of 0.94. The company’s fifty day simple moving average is $47.60 and its two-hundred day simple moving average is $44.58.

Tetra Tech Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Wednesday, November 27th. Tetra Tech’s payout ratio is 18.70%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the sale, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total transaction of $302,120.00. Following the completion of the transaction, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,750 shares of company stock valued at $5,633,239. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

Several institutional investors have recently modified their holdings of the business. Sarasin & Partners LLP lifted its stake in Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after acquiring an additional 3,801,435 shares during the period. Geode Capital Management LLC lifted its position in Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after purchasing an additional 2,622,288 shares during the last quarter. abrdn plc boosted its holdings in Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after purchasing an additional 1,644,267 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after buying an additional 1,618,211 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

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.