Tetra Tech (NASDAQ:TTEK) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Tetra Tech (NASDAQ:TTEK) issued its quarterly earnings data on Wednesday. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13, Briefing.com reports. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted $1.17 EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis.

Tetra Tech Price Performance

Tetra Tech stock opened at $192.49 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $10.30 billion, a PE ratio of 44.56 and a beta of 0.93. The business has a 50 day simple moving average of $185.52 and a 200-day simple moving average of $171.09. Tetra Tech has a 12 month low of $132.29 and a 12 month high of $196.48.

Insider Buying and Selling at Tetra Tech

In other news, CFO Steven M. Burdick sold 7,515 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now directly owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Steven M. Burdick sold 7,515 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares of the company’s stock, valued at approximately $5,250,776.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director J Kenneth Thompson sold 3,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $177.24, for a total transaction of $620,340.00. Following the transaction, the director now directly owns 10,985 shares in the company, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on TTEK. KeyCorp assumed coverage on shares of Tetra Tech in a research report on Wednesday, January 10th. They set an “overweight” rating and a $191.00 price target for the company. Royal Bank of Canada raised their price target on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Maxim Group raised their target price on Tetra Tech from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.00.

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.