Tetra Tech (NASDAQ:TTEK) Upgraded to "Buy" at Northcoast Research

Northcoast Research upgraded shares of Tetra Tech (NASDAQ:TTEK - Free Report) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat reports. Northcoast Research currently has $225.00 price objective on the industrial products company's stock.

Other equities analysts have also recently issued research reports about the stock. KeyCorp started coverage on shares of Tetra Tech in a report on Wednesday, January 10th. They issued an overweight rating and a $191.00 target price on the stock. Maxim Group raised 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. Robert W. Baird raised their target price on shares of Tetra Tech from $180.00 to $200.00 and gave the stock a neutral rating in a report on Thursday. Finally, Royal Bank of Canada raised their target price on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $209.80.

Tetra Tech Stock Up 6.1 %

NASDAQ:TTEK traded up $11.77 during mid-day trading on Thursday, reaching $204.26. The stock had a trading volume of 551,741 shares, compared to its average volume of 268,688. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 46.62 and a beta of 0.93. Tetra Tech has a 1-year low of $132.29 and a 1-year high of $204.33. The stock's 50 day simple moving average is $185.52 and its two-hundred day simple moving average is $171.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 1.25.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.13. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. The company's revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Equities analysts anticipate that Tetra Tech will post 6.07 EPS for the current year.

Insider Activity

In other news, CFO Steven M. Burdick sold 7,128 shares of Tetra Tech stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now owns 37,405 shares of the company's stock, valued at $6,172,199.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director J Kenneth Thompson sold 8,400 shares of the business's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.00, for a total transaction of $1,386,000.00. Following the sale, the director now owns 14,485 shares of the company's stock, valued at $2,390,025. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the business's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $165.01, for a total value of $1,176,191.28. Following the sale, the chief financial officer now directly owns 37,405 shares in the company, valued at approximately $6,172,199.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,123 shares of company stock valued at $5,487,673. Insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sarasin & Partners LLP grew its position in Tetra Tech by 2.6% in the first quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company's stock worth $231,623,000 after buying an additional 32,053 shares during the last quarter. Invesco Ltd. grew its position in Tetra Tech by 6.2% in the third quarter. Invesco Ltd. now owns 879,638 shares of the industrial products company's stock worth $133,731,000 after buying an additional 51,139 shares during the last quarter. Norges Bank acquired a new position in Tetra Tech in the fourth quarter worth approximately $96,655,000. Vontobel Holding Ltd. grew its position in Tetra Tech by 2.8% in the fourth quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company's stock worth $89,072,000 after buying an additional 14,334 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Tetra Tech by 8.8% in the fourth quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company's stock worth $86,088,000 after buying an additional 41,860 shares during the last quarter. Institutional investors own 93.89% of the company's stock.

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.