Tetra Tech (NASDAQ:TTEK – Get Rating) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.
Separately, Maxim Group lifted their price objective on Tetra Tech from $190.00 to $200.00 in a research note on Friday, November 11th.
Tetra Tech Stock Down 1.5%
NASDAQ TTEK traded down $2.24 during trading on Friday, hitting $151.38. 220,210 shares of the company traded hands, compared to its average volume of 335,809. Tetra Tech has a 12 month low of $118.55 and a 12 month high of $176.63. The business has a fifty day simple moving average of $143.41 and a 200 day simple moving average of $139.29. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $8.02 billion, a P/E ratio of 31.08 and a beta of 0.92.
Tetra Tech (NASDAQ:TTEK – Get Rating) last posted its earnings results on Wednesday, November 9th. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $736.10 million for the quarter, compared to analyst estimates of $712.86 million. Tetra Tech had a return on equity of 20.02% and a net margin of 7.51%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. As a group, sell-side analysts predict that Tetra Tech will post 4.84 EPS for the current year.
Insider Buying and Selling
In related news, Director Kirsten M. Volpi sold 700 shares of Tetra Tech stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $154.61, for a total transaction of $108,227.00. Following the sale, the director now directly owns 12,603 shares of the company’s stock, valued at $1,948,549.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Kirsten M. Volpi sold 700 shares of Tetra Tech stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $154.61, for a total transaction of $108,227.00. Following the sale, the director now directly owns 12,603 shares of the company’s stock, valued at $1,948,549.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Preston Hopson III sold 3,616 shares of Tetra Tech stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $157.52, for a total value of $569,592.32. Following the sale, the senior vice president now directly owns 10,395 shares in the company, valued at $1,637,420.40. The disclosure for this sale can be found here. Insiders have sold a total of 13,931 shares of company stock valued at $2,176,181 over the last three months. 1.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Tetra Tech
Institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. acquired a new stake in Tetra Tech during the second quarter valued at approximately $25,000. Private Trust Co. NA boosted its holdings in Tetra Tech by 64.3% during the third quarter. Private Trust Co. NA now owns 253 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 99 shares in the last quarter. Clear Investment Research LLC acquired a new stake in Tetra Tech during the third quarter valued at approximately $39,000. Quantbot Technologies LP acquired a new stake in Tetra Tech during the second quarter valued at approximately $39,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in Tetra Tech during the third quarter valued at approximately $40,000. 85.93% of the stock is owned by institutional investors and hedge funds.
About Tetra Tech
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Tetra Tech, Inc provides consulting and engineering services worldwide. 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.
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