Today, Tetra Technologies Inc. (TTI) Lowered by Credit Suisse Group AG to “Neutral”

Today, Tetra Technologies Inc. (TTI) Lowered by Credit Suisse Group AG to “Neutral”

Tetra Technologies Inc. (NYSE:TTI) was downgraded by analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a report issued on Tuesday. They currently have a $5.00 price target on the stock, down from their previous price target of $8.00. Credit Suisse Group AG’s price objective would indicate a potential downside of 7.58% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. set a $8.00 price target on shares of Tetra Technologies and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Simmons reiterated an “overweight” rating and issued a $7.60 price target (up from $7.35) on shares of Tetra Technologies in a research report on Wednesday, August 10th. Morgan Stanley began coverage on shares of Tetra Technologies in a research report on Wednesday, August 10th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Loop Capital began coverage on shares of Tetra Technologies in a research report on Friday, September 30th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $7.87.

Shares of Tetra Technologies (NYSE:TTI) traded down 1.28% during trading on Tuesday, reaching $5.41. 254,679 shares of the company were exchanged. The company’s market capitalization is $501.43 million. Tetra Technologies has a 1-year low of $4.40 and a 1-year high of $9.44. The stock’s 50 day moving average is $5.56 and its 200 day moving average is $5.86.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Monday, November 7th. The company reported ($0.05) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The business earned $176.55 million during the quarter, compared to analysts’ expectations of $205.33 million. Tetra Technologies had a negative net margin of 35.47% and a negative return on equity of 8.79%. The firm’s revenue was down 42.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 earnings per share. Equities analysts anticipate that Tetra Technologies will post ($0.49) earnings per share for the current year.

In other news, VP Elisabeth K. Evans sold 14,012 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $5.41, for a total value of $75,804.92. Following the sale, the vice president now owns 22,752 shares of the company’s stock, valued at $123,088.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Keith L. Schilling sold 24,341 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total transaction of $155,052.17. Following the completion of the sale, the vice president now directly owns 111,161 shares in the company, valued at approximately $708,095.57. The disclosure for this sale can be found here. Company insiders own 4.45% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Tetra Technologies by 16.8% in the second quarter. Vanguard Group Inc. now owns 8,394,848 shares of the company’s stock valued at $53,476,000 after buying an additional 1,205,275 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Tetra Technologies by 13.5% in the third quarter. BlackRock Fund Advisors now owns 6,864,662 shares of the company’s stock valued at $41,943,000 after buying an additional 818,153 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Tetra Technologies by 1,287.1% in the second quarter. Point72 Asset Management L.P. now owns 4,785,514 shares of the company’s stock valued at $30,484,000 after buying an additional 4,440,514 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Tetra Technologies by 20.1% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,278,360 shares of the company’s stock valued at $27,253,000 after buying an additional 714,921 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Tetra Technologies by 0.4% in the third quarter. Neuberger Berman Group LLC now owns 3,132,948 shares of the company’s stock valued at $19,142,000 after buying an additional 12,196 shares in the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

Tetra Technologies Company Profile

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