Tetra Tech (NASDAQ:TTEK) Price Target Cut to $44.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Tetra Tech’s price target to $44 from $46 while maintaining an “outperform” rating, implying 27.16% upside from the prior close.
• Tetra Tech shares rose 2.9% to $34.60, with the company valued at approximately $8.86 billion. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $39.
• The company exceeded quarterly expectations, reporting $0.42 in earnings per share versus $0.40 expected and $1.31 billion in revenue, though revenue declined 4.4% year over year. Institutional investors own 93.89% of the stock.

Tetra Tech (NASDAQ:TTEK - Get Free Report) had its target price reduced by stock analysts at Royal Bank Of Canada from $46.00 to $44.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the industrial products company's stock. Royal Bank Of Canada's price target suggests a potential upside of 27.16% from the company's previous close.

A number of other analysts have also recently commented on TTEK. Weiss Ratings upgraded shares of Tetra Tech from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. National Bank Financial decreased their price target on shares of Tetra Tech from $38.00 to $35.00 and set an "outperform" rating for the company in a report on Monday, July 13th. KeyCorp reiterated an "overweight" rating and set a $41.00 price objective (down from $43.00) on shares of Tetra Tech in a research note on Thursday. Finally, Robert W. Baird set a $37.00 price objective on shares of Tetra Tech in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Tetra Tech presently has an average rating of "Moderate Buy" and an average price target of $39.00.

Tetra Tech Stock Up 2.9%

TTEK stock traded up $0.99 during trading on Thursday, hitting $34.60. 328,558 shares of the company's stock traded hands, compared to its average volume of 2,944,575. The firm has a market capitalization of $8.86 billion, a P/E ratio of 20.78 and a beta of 0.95. The business has a fifty day simple moving average of $35.26 and a two-hundred day simple moving average of $31.82. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. Tetra Tech has a 1 year low of $25.81 and a 1 year high of $43.14.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a return on equity of 22.32% and a net margin of 8.60%. Tetra Tech's revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Tetra Tech has set its Q4 2026 guidance at 0.450-0.480 EPS and its FY 2026 guidance at 1.560-1.590 EPS. Sell-side analysts anticipate that Tetra Tech will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently bought and sold shares of TTEK. Amundi boosted its holdings in Tetra Tech by 7.4% in the second quarter. Amundi now owns 5,098,519 shares of the industrial products company's stock valued at $147,264,000 after purchasing an additional 349,272 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Tetra Tech by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,789,240 shares of the industrial products company's stock valued at $114,128,000 after buying an additional 112,560 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Tetra Tech by 47.6% in the 1st quarter. First Trust Advisors LP now owns 2,445,482 shares of the industrial products company's stock valued at $73,658,000 after buying an additional 788,491 shares during the period. Energy Income Partners LLC acquired a new position in shares of Tetra Tech in the 2nd quarter valued at about $68,512,000. Finally, Bank of America Corp DE purchased a new stake in shares of Tetra Tech in the second quarter worth about $57,135,000. Institutional investors and hedge funds own 93.89% of the company's stock.

Tetra Tech Company Profile

Tetra Tech, Inc is a consulting and engineering services company that helps government and commercial clients address complex challenges involving water, the environment, infrastructure, energy and natural resources. Its work includes planning, design, program management, engineering, scientific analysis and technical advisory services.

The company provides services across the water life cycle, including water supply, wastewater treatment, flood management and watershed planning. It also supports environmental restoration and compliance, climate resilience, sustainable infrastructure, renewable energy, disaster recovery and national security programs.

Founded in 1966, Tetra Tech serves clients in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.