Robert W. Baird Increases Tetra Tech (NASDAQ:TTEK) Price Target to $47.00

Tetra Tech (NASDAQ:TTEK) had its price target raised by equities research analysts at Robert W. Baird from $46.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target would indicate a potential upside of 13.88% from the stock’s previous close.

Other analysts have also issued reports about the stock. KeyCorp raised their price objective on shares of Tetra Tech from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada raised their target price on Tetra Tech from $46.60 to $51.80 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Trading Up 0.8 %

NASDAQ TTEK opened at $41.27 on Thursday. The firm has a market cap of $11.05 billion, a PE ratio of 33.50 and a beta of 0.94. Tetra Tech has a 1-year low of $30.92 and a 1-year high of $51.20. The stock has a 50-day moving average of $47.60 and a 200-day moving average of $44.58. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.44.

Insider Buying and Selling

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

Institutional Trading of Tetra Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Tetra Tech by 20.2% in the second quarter. CWM LLC now owns 304 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 51 shares during the period. ELCO Management Co. LLC increased its stake 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 worth $268,000 after buying an additional 60 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tetra Tech by 4.8% during the second 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Tetra Tech by 4.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,021 shares of the industrial products company’s stock valued at $413,000 after acquiring an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Tetra Tech by 0.8% in the second quarter. Victory Capital Management Inc. now owns 11,229 shares of the industrial products company’s stock worth $2,296,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds 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.