Tetra Tech (NASDAQ:TTEK) Downgraded to “Hold” at StockNews.com

Posted by on May 23rd, 2023

Tetra Tech (NASDAQ:TTEK – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other research firms have also recently commented on TTEK. Robert W. Baird boosted their target price on Tetra Tech from $164.00 to $170.00 in a research report on Thursday, May 11th. 1-800-FLOWERS.COM restated a “maintains” rating on shares of Tetra Tech in a research report on Thursday, May 11th.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $143.21 on Tuesday. The stock has a market cap of $7.62 billion, a PE ratio of 25.48 and a beta of 0.97. Tetra Tech has a fifty-two week low of $118.55 and a fifty-two week high of $169.67. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a fifty day moving average of $141.96 and a 200-day moving average of $145.81.

Tetra Tech (NASDAQ:TTEK – Get Rating) last announced its quarterly earnings results on Wednesday, May 10th. The industrial products company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.21. Tetra Tech had a return on equity of 20.51% and a net margin of 7.83%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $810.00 million. During the same period in the previous year, the business earned $0.98 earnings per share. Equities research analysts anticipate that Tetra Tech will post 5.12 earnings per share for the current year.

Institutional Investors Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. Raymond James & Associates lifted its stake in shares of Tetra Tech by 6.7% in the 1st quarter. Raymond James & Associates now owns 22,259 shares of the industrial products company’s stock valued at $3,671,000 after acquiring an additional 1,395 shares during the last quarter. American Century Companies Inc. raised its position in Tetra Tech by 20.0% during the 1st quarter. American Century Companies Inc. now owns 3,178 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 529 shares during the last quarter. US Bancorp DE raised its position in Tetra Tech by 4.2% during the 1st quarter. US Bancorp DE now owns 2,170 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 87 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in Tetra Tech during the 1st quarter valued at approximately $421,000. Finally, Bank of Montreal Can raised its position in Tetra Tech by 8.2% during the 1st quarter. Bank of Montreal Can now owns 6,868 shares of the industrial products company’s stock valued at $1,163,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 85.28% of the company’s stock.

Tetra Tech Company Profile

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Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.

Further Reading

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