Tetra Tech (NASDAQ:TTEK) Sets New 52-Week High at $173.86

Tetra Tech, Inc. (NASDAQ:TTEKGet Free Report)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $173.86 and last traded at $172.77, with a volume of 286538 shares. The stock had previously closed at $164.95.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada increased 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. Robert W. Baird raised their price objective on shares of Tetra Tech from $172.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Finally, KeyCorp assumed coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $197.25.

Get Our Latest Research Report on TTEK

Tetra Tech Trading Up 3.2 %

The company’s 50 day moving average price is $164.21 and its 200 day moving average price is $160.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.12. The firm has a market cap of $9.10 billion, a PE ratio of 39.36 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEKGet Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.35 by $0.05. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $974.00 million. During the same quarter last year, the firm posted $1.34 earnings per share. As a group, analysts forecast that Tetra Tech, Inc. will post 5.9 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Wednesday, February 14th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, February 13th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.07%.

Insiders Place Their Bets

In other Tetra Tech news, SVP Brian N. Carter sold 1,474 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $165.58, for a total transaction of $244,064.92. Following the completion of the transaction, the senior vice president now owns 8,360 shares in the company, valued at approximately $1,384,248.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Dan L. Batrack sold 22,000 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $161.51, for a total value of $3,553,220.00. Following the completion of the transaction, the chief executive officer now owns 48,566 shares in the company, valued at approximately $7,843,894.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Brian N. Carter sold 1,474 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $165.58, for a total transaction of $244,064.92. Following the completion of the transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $1,384,248.80. The disclosure for this sale can be found here. Insiders sold 32,232 shares of company stock worth $5,231,987 in the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TTEK. Vanguard Group Inc. raised its position in Tetra Tech by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,303,607 shares of the industrial products company’s stock worth $874,777,000 after buying an additional 61,906 shares during the last quarter. State Street Corp increased its holdings in shares of Tetra Tech by 1.9% in the 1st quarter. State Street Corp now owns 1,707,196 shares of the industrial products company’s stock valued at $281,585,000 after purchasing an additional 31,942 shares in the last quarter. Sarasin & Partners LLP increased its holdings in shares of Tetra Tech by 18.3% in the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after purchasing an additional 189,049 shares in the last quarter. abrdn plc boosted its stake in shares of Tetra Tech by 16.5% during the 2nd quarter. abrdn plc now owns 945,428 shares of the industrial products company’s stock worth $154,804,000 after purchasing an additional 133,793 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tetra Tech by 7.5% during the 1st quarter. Invesco Ltd. now owns 917,617 shares of the industrial products company’s stock worth $151,353,000 after acquiring an additional 64,168 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Tetra Tech Company Profile

(Get Free Report)

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.

Further Reading

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