Tetra Tech (NASDAQ:TTEK) Reaches New 52-Week High on Analyst Upgrade

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after Maxim Group raised their price target on the stock from $220.00 to $230.00. Maxim Group currently has a buy rating on the stock. Tetra Tech traded as high as $196.13 and last traded at $195.89, with a volume of 48578 shares traded. The stock had previously closed at $193.20.

Several other research firms have also commented on TTEK. Royal Bank of Canada upped their price objective on Tetra Tech from $192.00 to $203.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. KeyCorp began coverage on Tetra Tech in a research note on Wednesday, January 10th. They set an "overweight" rating and a $191.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $201.00.

Insider Transactions at Tetra Tech

In related news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company's stock, valued at approximately $2,390,025. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the completion of the transaction, the director now directly owns 14,485 shares of the company's stock, valued at approximately $2,390,025. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Brian N. Carter sold 5,580 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $176.52, for a total value of $984,981.60. Following the completion of the transaction, the senior vice president now directly owns 8,360 shares of the company's stock, valued at $1,475,707.20. The disclosure for this sale can be found here. Insiders sold a total of 32,123 shares of company stock valued at $5,487,673 in the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Trading of Tetra Tech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sarasin & Partners LLP increased its stake in shares of Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company's stock worth $231,623,000 after acquiring an additional 32,053 shares during the last quarter. Invesco Ltd. increased its stake in shares of Tetra Tech by 6.2% in the 3rd quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company's stock worth $133,731,000 after acquiring an additional 51,139 shares during the last quarter. Norges Bank acquired a new stake in shares of Tetra Tech in the 4th quarter worth $96,655,000. Vontobel Holding Ltd. increased its stake in shares of Tetra Tech by 2.8% in the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company's stock worth $89,072,000 after acquiring an additional 14,334 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Tetra Tech by 8.8% in the 4th quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company's stock worth $86,088,000 after acquiring an additional 41,860 shares during the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Up 0.8 %

The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 45.07 and a beta of 0.96. The business has a 50 day simple moving average of $185.18 and a 200-day simple moving average of $170.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same period last year, the company earned $1.34 EPS. On average, equities analysts expect that Tetra Tech, Inc. will post 6.07 EPS for the current year.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project 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.