Tetra Tech, Inc. (NASDAQ:TTEK) – Stock analysts at Boenning Scattergood lifted their Q3 2018 earnings per share (EPS) estimates for shares of Tetra Tech in a research note issued on Thursday. Boenning Scattergood analyst R. Connors now anticipates that the industrial products company will post earnings per share of $0.58 for the quarter, up from their prior forecast of $0.56. Boenning Scattergood currently has a “Buy” rating and a $54.00 price target on the stock.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Tetra Tech had a net margin of 4.28% and a return on equity of 13.60%. The company had revenue of $533.00 million during the quarter, compared to analysts’ expectations of $517.90 million. During the same quarter in the previous year, the company earned $0.59 EPS. Tetra Tech’s revenue was up .4% on a year-over-year basis.
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Several other brokerages have also recently commented on TTEK. Roth Capital set a $52.00 price target on shares of Tetra Tech and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Tetra Tech from a “hold” rating to a “sell” rating in a research report on Friday. Robert W. Baird lifted their price target on shares of Tetra Tech from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus reiterated a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a research report on Thursday, September 7th. Finally, BidaskClub cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.29.
Shares of Tetra Tech (NASDAQ:TTEK) opened at $48.50 on Monday. Tetra Tech has a 1 year low of $38.45 and a 1 year high of $50.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.94. The company has a market cap of $2,709.84, a P/E ratio of 22.77, a PEG ratio of 1.56 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, November 29th. Tetra Tech’s payout ratio is 19.61%.
In other Tetra Tech news, insider Ronald J. Chu sold 14,112 shares of Tetra Tech stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $50.00, for a total value of $705,600.00. Following the transaction, the insider now owns 51,216 shares of the company’s stock, valued at $2,560,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ronald J. Chu sold 696 shares of Tetra Tech stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $50.00, for a total transaction of $34,800.00. Following the completion of the transaction, the insider now directly owns 37,800 shares in the company, valued at approximately $1,890,000. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in Tetra Tech by 76.4% in the third quarter. Wells Fargo & Company MN now owns 318,483 shares of the industrial products company’s stock valued at $14,825,000 after buying an additional 137,887 shares in the last quarter. Legal & General Group Plc lifted its stake in Tetra Tech by 1.2% in the third quarter. Legal & General Group Plc now owns 113,467 shares of the industrial products company’s stock valued at $5,279,000 after buying an additional 1,376 shares in the last quarter. Nordea Investment Management AB lifted its stake in Tetra Tech by 18.4% in the third quarter. Nordea Investment Management AB now owns 49,099 shares of the industrial products company’s stock valued at $2,286,000 after buying an additional 7,641 shares in the last quarter. ETRADE Capital Management LLC lifted its stake in Tetra Tech by 60.5% in the third quarter. ETRADE Capital Management LLC now owns 26,689 shares of the industrial products company’s stock valued at $1,242,000 after buying an additional 10,063 shares in the last quarter. Finally, Robecosam AG lifted its stake in Tetra Tech by 11.5% in the third quarter. Robecosam AG now owns 238,449 shares of the industrial products company’s stock valued at $11,016,000 after buying an additional 24,513 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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