Tetra Tech (TTEK) Lifted to Buy at BidaskClub

Tetra Tech (NASDAQ:TTEK) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

TTEK has been the topic of several other reports. Zacks Investment Research raised Tetra Tech from a “sell” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Monday, August 6th. Maxim Group set a $87.00 price objective on Tetra Tech and gave the stock a “buy” rating in a report on Monday, October 29th. Roth Capital upped their price objective on Tetra Tech from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, August 6th. Canaccord Genuity reaffirmed a “buy” rating and set a $73.00 price objective (up from $60.00) on shares of Tetra Tech in a report on Thursday, August 2nd. Finally, Robert W. Baird set a $70.00 price objective on Tetra Tech and gave the stock a “hold” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $70.71.

TTEK stock traded up $3.52 during midday trading on Thursday, hitting $72.33. The company’s stock had a trading volume of 509,800 shares, compared to its average volume of 248,484. Tetra Tech has a 12 month low of $44.65 and a 12 month high of $72.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 1.66 and a beta of 0.98.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The business had revenue of $563.67 million during the quarter, compared to the consensus estimate of $571.33 million. Tetra Tech had a return on equity of 15.31% and a net margin of 4.82%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. Sell-side analysts anticipate that Tetra Tech will post 2.65 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in Tetra Tech by 303.8% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after buying an additional 1,215 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Tetra Tech by 80.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock valued at $124,000 after buying an additional 2,000 shares during the period. Smithfield Trust Co. raised its holdings in Tetra Tech by 70.1% during the 3rd quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after buying an additional 940 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in Tetra Tech during the 2nd quarter valued at $205,000. Finally, M Holdings Securities Inc. purchased a new stake in Tetra Tech during the 2nd quarter valued at $222,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI 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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