Tetra Tech (NASDAQ:TTEK) Price Target Increased to $223.00 by Analysts at Robert W. Baird

Tetra Tech (NASDAQ:TTEK - Free Report) had its price target raised by Robert W. Baird from $200.00 to $223.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the industrial products company's stock.

Several other equities analysts have also recently commented on TTEK. Royal Bank of Canada raised their target price on shares of Tetra Tech from $203.00 to $233.00 and gave the company an outperform rating in a research note on Friday, May 3rd. StockNews.com upgraded shares of Tetra Tech from a hold rating to a buy rating in a research report on Tuesday. Maxim Group boosted their target price on shares of Tetra Tech from $220.00 to $230.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Northcoast Research upgraded shares of Tetra Tech from a neutral rating to a buy rating and set a $225.00 target price for the company in a report on Thursday, May 2nd. Finally, KeyCorp lifted their price target on shares of Tetra Tech from $219.00 to $231.00 and gave the stock an overweight rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $228.40.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK traded up $4.31 on Wednesday, reaching $217.27. 284,325 shares of the company's stock were exchanged, compared to its average volume of 274,195. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 43.98 and a beta of 0.93. Tetra Tech has a fifty-two week low of $132.29 and a fifty-two week high of $218.46. The business's 50-day moving average is $192.07 and its two-hundred day moving average is $175.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the company earned $1.17 EPS. The company's revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, equities research analysts forecast that Tetra Tech will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a $0.29 dividend. This is a positive change from Tetra Tech's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.16 annualized dividend and a yield of 0.53%. Tetra Tech's payout ratio is 21.05%.

Insiders Place Their Bets

In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of Tetra Tech stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the transaction, the chief financial officer now directly owns 29,890 shares in the company, valued at approximately $5,250,776.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors and hedge funds have recently modified their holdings of the stock. Aristides Capital LLC purchased a new position in shares of Tetra Tech during the 1st quarter valued at $261,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Tetra Tech by 7.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,613 shares of the industrial products company's stock valued at $5,286,000 after purchasing an additional 2,096 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Tetra Tech by 5.4% in the 1st quarter. Lazard Asset Management LLC now owns 6,455 shares of the industrial products company's stock valued at $1,191,000 after purchasing an additional 330 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Tetra Tech by 125.8% in the 1st quarter. 1832 Asset Management L.P. now owns 271 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 151 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Tetra Tech in the 1st quarter valued at $1,469,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Company Profile

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.