Robert W. Baird Boosts Tetra Tech (NASDAQ:TTEK) Price Target to $200.00

Tetra Tech (NASDAQ:TTEK) had its target price hoisted by equities research analysts at Robert W. Baird from $180.00 to $200.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target points to a potential downside of 3.73% from the company’s current price.

A number of other analysts have also issued reports on the company. KeyCorp initiated coverage on Tetra Tech in a report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 target price on the stock. Maxim Group raised their target price on Tetra Tech from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada raised their target price on Tetra Tech from $192.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.40.

Tetra Tech Stock Performance

Shares of TTEK stock traded up $3.49 during trading on Thursday, reaching $207.75. The company had a trading volume of 402,949 shares, compared to its average volume of 308,899. The firm’s 50 day simple moving average is $186.65 and its two-hundred day simple moving average is $171.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.25. Tetra Tech has a one year low of $132.29 and a one year high of $208.76. The company has a market capitalization of $11.11 billion, a PE ratio of 42.05 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $1.17 EPS. The firm’s revenue was down 9.5% compared to the same quarter last year. Sell-side analysts forecast that Tetra Tech will post 6.2 earnings per share for the current year.

Insider Transactions at Tetra Tech

In other news, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech 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 sale, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Brian N. Carter sold 5,580 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $176.52, for a total value of $984,981.60. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at approximately $1,475,707.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Kenneth Thompson sold 3,500 shares of Tetra Tech stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $177.24, for a total value of $620,340.00. Following the completion of the transaction, the director now owns 10,985 shares of the company’s stock, valued at approximately $1,946,981.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,123 shares of company stock valued at $5,487,673. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Institutional investors have recently bought and sold shares of the business. Sarasin & Partners LLP lifted its stake in Tetra Tech by 2.6% in the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after buying an additional 32,053 shares during the period. Invesco Ltd. lifted its stake in Tetra Tech by 6.2% in the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company’s stock valued at $133,731,000 after buying an additional 51,139 shares during the period. Norges Bank acquired a new position in Tetra Tech in the fourth quarter valued at about $96,655,000. Vontobel Holding Ltd. lifted its stake in Tetra Tech by 2.8% in the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock valued at $89,072,000 after buying an additional 14,334 shares during the period. Finally, First Trust Advisors LP lifted its stake in Tetra Tech by 8.8% in the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock valued at $86,088,000 after buying an additional 41,860 shares during the period. Institutional investors own 93.89% of the company’s stock.

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.