Robert W. Baird Boosts Tetra Tech (NASDAQ:TTEK) Price Target to $200.00

Tetra Tech (NASDAQ:TTEK) had its price objective upped by Robert W. Baird from $180.00 to $200.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also commented on TTEK. Maxim Group lifted their price target on Tetra Tech from $220.00 to $230.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Royal Bank of Canada raised their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Finally, KeyCorp started coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They set an overweight rating and a $191.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Stock Up 1.7 %

Shares of NASDAQ TTEK opened at $207.75 on Thursday. Tetra Tech has a one year low of $132.29 and a one year high of $208.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. The business’s fifty day moving average price is $186.65 and its 200-day moving average price is $171.67. The stock has a market capitalization of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company’s revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.17 earnings per share. On average, equities research analysts anticipate that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.56%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. Tetra Tech’s payout ratio is presently 21.05%.

Insider Activity at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares in the company, valued at $2,390,025. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now owns 14,485 shares in the company, valued at approximately $2,390,025. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total value of $1,320,160.05. Following the completion of the sale, the chief financial officer now directly owns 29,890 shares in the company, valued at $5,250,776.30. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock worth $5,487,673 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of TTEK. Sarasin & Partners LLP boosted its position in shares of Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock worth $231,623,000 after purchasing an additional 32,053 shares in the last quarter. Invesco Ltd. boosted its stake in Tetra Tech by 6.2% in the 3rd quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock worth $133,731,000 after purchasing an additional 51,139 shares in the last quarter. Norges Bank purchased a new stake in Tetra Tech during the 4th quarter valued at about $96,655,000. Vontobel Holding Ltd. increased its stake in Tetra Tech by 2.8% during the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock valued at $89,072,000 after purchasing an additional 14,334 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Tetra Tech by 8.8% in the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock worth $86,088,000 after buying an additional 41,860 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.