Trade Report: Today, Tetra Technologies Inc. (TTI) Price Target Cut to $7.00 by Analysts at Royal Bank Of Canada

Today, Tetra Technologies Inc. (TTI) Price Target Cut to $7.00 by Analysts at Royal Bank Of Canada

Tetra Technologies Inc. (NYSE:TTI) had its price objective decreased by equities research analysts at Royal Bank Of Canada from $8.00 to $7.00 in a report issued on Tuesday. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 29.39% from the stock’s previous close.

Other analysts also recently issued reports about the company. Zacks Investment Research downgraded Tetra Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Tetra Technologies in a research note on Monday, July 18th. JPMorgan Chase & Co. set a $8.00 price objective on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 9th. Simmons reaffirmed an “overweight” rating and set a $7.60 price objective (up from $7.35) on shares of Tetra Technologies in a research note on Wednesday, August 10th. Finally, Morgan Stanley began coverage on Tetra Technologies in a research note on Wednesday, August 10th. They set an “overweight” rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Tetra Technologies currently has an average rating of “Buy” and an average price target of $7.87.

Shares of Tetra Technologies (NYSE:TTI) opened at 5.41 on Tuesday. The firm’s market capitalization is $501.43 million. The stock has a 50 day moving average price of $5.56 and a 200-day moving average price of $5.86. Tetra Technologies has a 52 week low of $4.40 and a 52 week high of $9.44.

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

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

Several institutional investors have recently modified their holdings of the company. Strs Ohio increased its position in shares of Tetra Technologies by 8.5% in the second quarter. Strs Ohio now owns 98,600 shares of the company’s stock worth $628,000 after buying an additional 7,700 shares during the period. Louisiana State Employees Retirement System increased its position in Tetra Technologies by 12.7% in the second quarter. Louisiana State Employees Retirement System now owns 40,000 shares of the company’s stock valued at $255,000 after buying an additional 4,500 shares during the last quarter. Bank of Montreal Can purchased a new position in Tetra Technologies during the second quarter valued at $358,000. Eqis Capital Management Inc. increased its position in Tetra Technologies by 1.0% in the second quarter. Eqis Capital Management Inc. now owns 16,915 shares of the company’s stock valued at $108,000 after buying an additional 166 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Tetra Technologies by 127.6% in the second quarter. BNP Paribas Arbitrage SA now owns 27,797 shares of the company’s stock valued at $177,000 after buying an additional 15,584 shares during the last quarter. 90.87% of the stock is owned by institutional investors and hedge funds.

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