“In TTEK’s upcoming earnings report on January 30th, post-close, we forecast $0.61 relative to the $0.62 consensus and within the guidance range of $0.60-$0.65.”,” Maxim Group’s analyst wrote.
A number of other analysts have also commented on the company. Zacks Investment Research raised Tetra Tech from a hold rating to a buy rating and set a $57.00 price objective for the company in a report on Saturday, January 5th. Boenning Scattergood reissued a buy rating and set a $80.00 price objective on shares of Tetra Tech in a report on Thursday, December 6th. BidaskClub lowered Tetra Tech from a hold rating to a sell rating in a report on Tuesday, December 4th. Finally, Robert W. Baird upped their target price on Tetra Tech from $63.00 to $70.00 and gave the company a hold rating in a report on Thursday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Tetra Tech currently has a consensus rating of Buy and an average target price of $70.43.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, November 7th. The industrial products company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $563.67 million during the quarter, compared to analyst estimates of $571.33 million. Tetra Tech had a return on equity of 15.80% and a net margin of 4.62%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Analysts expect that Tetra Tech will post 2.88 EPS for the current fiscal year.
In other news, Director Kirsten M. Volpi sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $66.94, for a total value of $80,328.00. Following the completion of the transaction, the director now directly owns 8,801 shares of the company’s stock, valued at $589,138.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Albert E. Smith sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $53.00, for a total value of $424,000.00. Following the completion of the transaction, the director now directly owns 51,158 shares of the company’s stock, valued at $2,711,374. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,382 shares of company stock valued at $4,830,265. 3.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TTEK. Steward Partners Investment Advisory LLC lifted its stake in Tetra Tech by 303.8% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,615 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,215 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Tetra Tech by 4,747.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,648 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 1,614 shares during the last quarter. Smithfield Trust Co. lifted its stake in Tetra Tech by 70.1% in the third quarter. Smithfield Trust Co. now owns 2,280 shares of the industrial products company’s stock valued at $156,000 after purchasing an additional 940 shares during the last quarter. MML Investors Services LLC purchased a new position in Tetra Tech in the third quarter valued at approximately $231,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Tetra Tech in the second quarter worth $205,000. 84.49% of the stock is owned by institutional investors.
About Tetra Tech
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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