William Blair began coverage on shares of Tetra Tech (NASDAQ:TTEK – Free Report) in a research note published on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating on the industrial products company’s stock.
Several other analysts have also recently commented on the company. Maxim Group boosted their price target on Tetra Tech from $200.00 to $215.00 in a research report on Friday, August 11th. KeyCorp boosted their price target on Tetra Tech from $185.00 to $200.00 and gave the stock an overweight rating in a research report on Friday, August 11th. Royal Bank of Canada initiated coverage on Tetra Tech in a research report on Monday, August 28th. They set an outperform rating and a $181.00 price target for the company. StockNews.com began coverage on Tetra Tech in a research report on Thursday, August 17th. They set a hold rating for the company. Finally, Robert W. Baird boosted their price objective on Tetra Tech from $157.00 to $172.00 in a research note on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Tetra Tech currently has an average rating of Moderate Buy and a consensus price target of $192.00.
Check Out Our Latest Report on Tetra Tech
Tetra Tech Stock Down 0.2 %
Tetra Tech (NASDAQ:TTEK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $959.52 million. Tetra Tech had a return on equity of 20.41% and a net margin of 7.27%. The business’s revenue was up 67.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. On average, analysts anticipate that Tetra Tech will post 5.27 EPS for the current fiscal year.
Tetra Tech Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 23rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, August 22nd. Tetra Tech’s dividend payout ratio (DPR) is presently 18.41%.
Hedge Funds Weigh In On Tetra Tech
Several large investors have recently modified their holdings of TTEK. Exchange Traded Concepts LLC acquired a new position in shares of Tetra Tech in the 1st quarter valued at $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Tetra Tech in the 2nd quarter valued at $29,000. Parallel Advisors LLC lifted its stake in shares of Tetra Tech by 109.0% in the 1st quarter. Parallel Advisors LLC now owns 209 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 109 shares during the last quarter. ST Germain D J Co. Inc. acquired a new position in shares of Tetra Tech in the 4th quarter valued at $33,000. Finally, Denali Advisors LLC lifted its stake in shares of Tetra Tech by 92.6% in the 2nd quarter. Denali Advisors LLC now owns 208 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.
Tetra Tech Company Profile
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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