Zacks Investment Research Lowers Tetra Tech (TTEK) to Sell

Zacks Investment Research lowered shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a sell rating in a report published on Monday.

According to Zacks, “Over the past three months, Zacks Consensus Estimate for Tetra Tech’s earnings has been revised downward for both fiscals 2018 and 2019. The stock also looks relatively more leveraged than the industry. Sudden fluctuations in the prices of metals, like uranium, precious metals, aluminum, copper, iron ore might hurt Tetra Tech’s mining business going forward. Also, energy market turmoil or impact of unfavorable government policies remains causes of concern for the stock. However, Tetra Tech’s shares have outperformed the industry in the past month.”

A number of other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Tetra Tech from a buy rating to a strong-buy rating in a research note on Friday, June 8th. ValuEngine raised shares of Tetra Tech from a hold rating to a buy rating in a research note on Tuesday, May 8th. Finally, Stifel Nicolaus boosted their price target on shares of Tetra Tech from $52.00 to $53.00 and gave the stock a hold rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Tetra Tech presently has a consensus rating of Buy and a consensus target price of $57.83.

TTEK opened at $59.50 on Monday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.49. The company has a market cap of $3.29 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. Tetra Tech has a fifty-two week low of $39.95 and a fifty-two week high of $61.05.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 2nd. The industrial products company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.03. The business had revenue of $532.79 million during the quarter, compared to the consensus estimate of $509.14 million. Tetra Tech had a net margin of 4.83% and a return on equity of 14.38%. Tetra Tech’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. equities research analysts anticipate that Tetra Tech will post 2.59 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Tetra Tech by 2.1% during the first quarter. BlackRock Inc. now owns 7,474,954 shares of the industrial products company’s stock valued at $365,900,000 after purchasing an additional 150,955 shares during the period. KAMES CAPITAL plc grew its holdings in Tetra Tech by 4.2% during the second quarter. KAMES CAPITAL plc now owns 1,443,437 shares of the industrial products company’s stock valued at $84,441,000 after purchasing an additional 57,985 shares during the period. Summit Trail Advisors LLC grew its holdings in Tetra Tech by 4,393.8% during the first quarter. Summit Trail Advisors LLC now owns 1,439,395 shares of the industrial products company’s stock valued at $1,439,000 after purchasing an additional 1,407,364 shares during the period. Ceredex Value Advisors LLC acquired a new position in Tetra Tech during the first quarter valued at approximately $69,799,000. Finally, Macquarie Group Ltd. grew its holdings in Tetra Tech by 9.2% during the fourth quarter. Macquarie Group Ltd. now owns 746,162 shares of the industrial products company’s stock valued at $35,928,000 after purchasing an additional 63,040 shares during the period. Hedge funds and other institutional investors own 85.13% of the company’s stock.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.

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