Tetra Tech (NASDAQ:TTEK) Upgraded at Northcoast Research

Northcoast Research upgraded shares of Tetra Tech (NASDAQ:TTEK) from a neutral rating to a buy rating in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has $225.00 target price on the industrial products company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Maxim Group boosted their price objective on Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a report on Tuesday, April 30th. KeyCorp started coverage on Tetra Tech in a research report on Wednesday, January 10th. They set an overweight rating and a $191.00 price objective on the stock. Royal Bank of Canada boosted their target price 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, Robert W. Baird raised their price target on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a research report on Thursday. 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.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $221.40.

Tetra Tech Stock Up 1.7 %

TTEK stock opened at $207.75 on Thursday. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $208.76. The business’s 50 day simple moving average is $186.65 and its 200 day simple moving average is $171.67. The company has a current ratio of 1.24, a quick ratio of 1.25 and a debt-to-equity ratio of 0.60. The firm 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 released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion for 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 quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 earnings per share. As a group, research analysts anticipate that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

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

Insider Buying and Selling

In other Tetra Tech news, Director J Kenneth Thompson sold 8,400 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $165.00, for a total value of $1,386,000.00. Following the transaction, the director now directly owns 14,485 shares of the company’s stock, valued at approximately $2,390,025. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Steven M. Burdick sold 7,128 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the sale, the chief financial officer now directly owns 37,405 shares in the company, valued at approximately $6,172,199.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director J Kenneth Thompson sold 8,400 shares of Tetra Tech stock in a transaction dated Monday, February 5th. The shares were 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 disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 over the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

Hedge funds have recently made changes to their positions in the stock. Sarasin & Partners LLP increased its position in Tetra Tech by 2.6% during 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. grew its stake in shares of Tetra Tech by 6.2% during the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock worth $133,731,000 after buying an additional 51,139 shares during the last quarter. Norges Bank acquired a new position in Tetra Tech in the 4th quarter worth about $96,655,000. Vontobel Holding Ltd. increased its stake in shares of Tetra Tech by 2.8% in the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock valued at $89,072,000 after buying an additional 14,334 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Tetra Tech by 8.8% during the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock valued at $86,088,000 after acquiring an additional 41,860 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.