Tetra Tech (NASDAQ:TTEK) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
Several other equities research analysts have also recently issued reports on the stock. Boenning Scattergood reaffirmed an “outperform” rating on shares of Tetra Tech in a research report on Tuesday, September 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a research report on Thursday, September 7th. Zacks Investment Research cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Finally, Robert W. Baird lifted their price objective on shares of Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Tetra Tech has an average rating of “Buy” and a consensus price target of $52.29.
Shares of Tetra Tech (NASDAQ TTEK) opened at $48.35 on Friday. The stock has a market cap of $2,694.21, a price-to-earnings ratio of 22.70, a PEG ratio of 1.55 and a beta of 1.07. Tetra Tech has a 1 year low of $38.85 and a 1 year high of $50.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.94 and a current ratio of 1.94.
In related news, SVP Brian N. Carter sold 12,694 shares of Tetra Tech stock in a transaction on Monday, November 27th. The shares were sold at an average price of $49.94, for a total transaction of $633,938.36. Following the sale, the senior vice president now directly owns 23,737 shares in the company, valued at approximately $1,185,425.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Dan L. Batrack sold 32,165 shares of Tetra Tech stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $48.70, for a total transaction of $1,566,435.50. Following the sale, the chairman now owns 286,533 shares in the company, valued at $13,954,157.10. The disclosure for this sale can be found here. Insiders have sold a total of 115,411 shares of company stock worth $5,727,537 over the last quarter. 3.80% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Tetra Tech by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,236,842 shares of the industrial products company’s stock worth $239,585,000 after acquiring an additional 23,972 shares in the last quarter. State Street Corp increased its stake in Tetra Tech by 5.2% in the second quarter. State Street Corp now owns 1,502,537 shares of the industrial products company’s stock valued at $68,741,000 after purchasing an additional 74,476 shares during the period. Northern Trust Corp increased its stake in Tetra Tech by 2.2% in the second quarter. Northern Trust Corp now owns 1,075,476 shares of the industrial products company’s stock valued at $49,203,000 after purchasing an additional 23,510 shares during the period. Boston Partners increased its stake in Tetra Tech by 2.2% in the third quarter. Boston Partners now owns 1,033,492 shares of the industrial products company’s stock valued at $48,109,000 after purchasing an additional 22,718 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in Tetra Tech by 1.4% in the third quarter. Neuberger Berman Group LLC now owns 783,488 shares of the industrial products company’s stock valued at $36,471,000 after purchasing an additional 10,692 shares during the period. Hedge funds and other institutional investors own 84.78% of the company’s stock.
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Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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