Tetra Tech (NASDAQ:TTEK) Price Target Raised to $268.00 at Maxim Group

Tetra Tech (NASDAQ:TTEK) had its target price hoisted by investment analysts at Maxim Group from $234.00 to $268.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Maxim Group’s price target indicates a potential upside of 23.35% from the company’s previous close.

TTEK has been the topic of a number of other research reports. KeyCorp upped their target price on shares of Tetra Tech from $219.00 to $231.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird upped their price objective on Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank of Canada increased their target price on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, May 2nd. Finally, StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.00.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $217.27 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. Tetra Tech has a fifty-two week low of $132.29 and a fifty-two week high of $218.46. The business has a 50 day moving average price of $192.07 and a two-hundred day moving average price of $175.04. The firm has a market cap of $11.62 billion, a PE ratio of 43.98 and a beta of 0.93.

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

Insiders Place Their Bets

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 in the company, valued at $5,250,776.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTEK. Norges Bank bought a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $96,655,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Tetra Tech during the 4th quarter worth $82,209,000. International Assets Investment Management LLC grew its stake in shares of Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock worth $36,902,000 after purchasing an additional 219,742 shares in the last quarter. Sarasin & Partners LLP increased its holdings in shares of Tetra Tech by 18.3% during the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after purchasing an additional 189,049 shares during the period. Finally, Bank of Nova Scotia bought a new stake in shares of Tetra Tech during the third quarter valued at about $23,934,000. 93.89% of the stock is owned by institutional investors and hedge funds.

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.