Maxim Group Increases Tetra Tech (NASDAQ:TTEK) Price Target to $230.00

Tetra Tech (NASDAQ:TTEK) had its price objective raised by equities research analysts at Maxim Group from $220.00 to $230.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Maxim Group’s price target suggests a potential upside of 17.82% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. KeyCorp began coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Tetra Tech Price Performance

NASDAQ TTEK traded up $2.02 during trading on Tuesday, hitting $195.22. 117,242 shares of the stock traded hands, compared to its average volume of 259,614. The company has a market capitalization of $10.44 billion, a P/E ratio of 45.24 and a beta of 0.96. The firm has a 50-day simple moving average of $184.83 and a 200-day simple moving average of $170.68. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. Tetra Tech has a 12-month low of $132.29 and a 12-month high of $196.30.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same quarter last year, the business posted $1.34 EPS. As a group, analysts predict that Tetra Tech will post 6.07 EPS for the current year.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 7,128 shares of Tetra Tech stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the completion of the sale, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at approximately $6,172,199.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tetra Tech news, SVP Brian N. Carter sold 5,580 shares of Tetra Tech stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total transaction of $984,981.60. Following the completion of the sale, the senior vice president now directly owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the transaction, the chief financial officer now directly owns 37,405 shares of the company’s stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock valued at $5,487,673 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TTEK. Rise Advisors LLC acquired a new position in Tetra Tech during the 1st quarter valued at about $27,000. Contravisory Investment Management Inc. purchased a new stake in Tetra Tech during the 4th quarter valued at about $26,000. Jones Financial Companies Lllp purchased a new stake in Tetra Tech during the 4th quarter valued at about $33,000. Principal Securities Inc. purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $36,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $38,000. 93.89% of the stock is owned by institutional investors.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. 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.