Trading Report: The Tetra Tech Inc. (TTEK) Given “Outperform” Rating at Boenning Scattergood

The Tetra Tech Inc. (TTEK) Given “Outperform” Rating at Boenning Scattergood

Boenning Scattergood reissued their outperform rating on shares of Tetra Tech Inc. (NASDAQ:TTEK) in a research report sent to investors on Friday.

Other equities research analysts have also issued reports about the company. Canaccord Genuity restated a buy rating and issued a $37.00 price target on shares of Tetra Tech in a research report on Friday, July 29th. Zacks Investment Research lowered Tetra Tech from a hold rating to a sell rating in a research report on Monday, July 18th. Finally, FBR & Co upped their price target on Tetra Tech from $32.00 to $36.00 and gave the company a market perform rating in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $34.40.

Shares of Tetra Tech (NASDAQ:TTEK) opened at 36.56 on Friday. The firm’s 50-day moving average price is $35.54 and its 200-day moving average price is $32.05. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 102.70 and a beta of 1.21. Tetra Tech has a 12 month low of $22.85 and a 12 month high of $36.76.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Tetra Tech had a return on equity of 12.31% and a net margin of 0.86%. The company earned $667 million during the quarter, compared to analyst estimates of $498.79 million. During the same period in the previous year, the business earned $0.43 EPS. Tetra Tech’s quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts expect that Tetra Tech will post $1.88 EPS for the current year.

In related news, EVP Ronald J. Chu sold 29,413 shares of the stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $32.00, for a total value of $941,216.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Kenneth Thompson sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $32.75, for a total value of $262,000.00. Following the completion of the transaction, the director now owns 20,930 shares of the company’s stock, valued at $685,457.50. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TTEK. Fox Run Management L.L.C. acquired a new position in shares of Tetra Tech during the third quarter valued at $383,000. Catawba Capital Management VA purchased a new position in Tetra Tech during the third quarter worth approximately $391,000. Macquarie Group Ltd. boosted its position in Tetra Tech by 30.2% in the second quarter. Macquarie Group Ltd. now owns 693,598 shares of the company’s stock worth $21,325,000 after buying an additional 160,774 shares during the period. Mason Street Advisors LLC purchased a new position in Tetra Tech during the second quarter worth approximately $348,000. Finally, Public Employees Retirement System of Ohio boosted its position in Tetra Tech by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 51,564 shares of the company’s stock worth $1,585,000 after buying an additional 150 shares during the period. Institutional investors own 89.12% of the company’s stock.

Tetra Tech Company Profile

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