Tetra Tech (NASDAQ:TTEK) Reaches New 52-Week High at $76.66

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) reached a new 52-week high during trading on Thursday . The company traded as high as $76.66 and last traded at $76.65, with a volume of 230834 shares trading hands. The stock had previously closed at $75.08.

TTEK has been the subject of a number of analyst reports. BidaskClub raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Monday, June 10th. ValuEngine downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Friday, May 3rd. Boenning Scattergood reaffirmed a “buy” rating and issued a $80.00 price target on shares of Tetra Tech in a research note on Thursday, May 2nd. Finally, Maxim Group reaffirmed a “buy” rating and issued a $87.00 price target on shares of Tetra Tech in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $76.83.

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market capitalization of $4.21 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The stock has a 50 day moving average price of $70.35.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The firm had revenue of $585.40 million during the quarter, compared to the consensus estimate of $552.65 million. Tetra Tech had a return on equity of 16.71% and a net margin of 5.44%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities research analysts expect that Tetra Tech, Inc. will post 3.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.15 per share. This is an increase from Tetra Tech’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.60 annualized dividend and a yield of 0.76%. Tetra Tech’s payout ratio is presently 22.73%.

In other news, Director Albert E. Smith sold 12,600 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $60.00, for a total transaction of $756,000.00. Following the sale, the director now directly owns 47,358 shares in the company, valued at $2,841,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP William R. Brownlie sold 16,750 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $60.00, for a total value of $1,005,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,549 shares of company stock valued at $9,124,363. Insiders own 3.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. First National Bank of Omaha grew its holdings in shares of Tetra Tech by 0.7% during the first quarter. First National Bank of Omaha now owns 30,576 shares of the industrial products company’s stock worth $1,822,000 after purchasing an additional 199 shares during the last quarter. AE Wealth Management LLC grew its holdings in shares of Tetra Tech by 2.4% during the fourth quarter. AE Wealth Management LLC now owns 11,688 shares of the industrial products company’s stock worth $605,000 after purchasing an additional 271 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of Tetra Tech by 2.0% during the first quarter. Virginia Retirement Systems ET AL now owns 15,300 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 300 shares during the last quarter. Comerica Bank grew its holdings in shares of Tetra Tech by 0.7% during the fourth quarter. Comerica Bank now owns 54,167 shares of the industrial products company’s stock worth $2,633,000 after purchasing an additional 359 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Tetra Tech by 8.8% during the fourth quarter. CIBC Asset Management Inc now owns 4,790 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 386 shares during the last quarter. Institutional investors own 85.48% of the company’s stock.

About Tetra Tech (NASDAQ:TTEK)

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through Government Services Group (GSG) and Commercial/International Services Group (CIG) segments. The GSG segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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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