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Tetra Tech, Inc. (NASDAQ:TTEK) Short Interest Up 211.3% in July

Tetra Tech logo with Industrials background

Key Points

  • Tetra Tech, Inc. experienced a significant increase in short interest of 211.3% in July, with a total of 9,090,000 shares shorted as of July 15th.
  • Analyst ratings for Tetra Tech have improved, with upgrades from "hold" to "buy" and target price increases, yielding an average price target of $41.67 and a current average rating of "Moderate Buy."
  • The company recently reported a quarterly earnings beat with an EPS of $0.43, slightly above the consensus estimate of $0.37, and declared a quarterly dividend of $0.065 per share.
  • Interested in Tetra Tech? Here are five stocks we like better.

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 9,090,000 shares, agrowthof211.3% from the June 30th total of 2,920,000 shares. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on TTEK shares. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird boosted their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Finally, KeyCorp boosted their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.67.

Check Out Our Latest Research Report on Tetra Tech

Hedge Funds Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chilton Capital Management LLC acquired a new position in shares of Tetra Tech in the 1st quarter valued at approximately $25,000. Baillie Gifford & Co. acquired a new position in shares of Tetra Tech in the 1st quarter valued at approximately $27,000. Central Pacific Bank Trust Division acquired a new position in shares of Tetra Tech in the 2nd quarter valued at approximately $32,000. SVB Wealth LLC acquired a new position in shares of Tetra Tech in the 1st quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Tetra Tech by 136.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 751 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

Tetra Tech stock opened at $35.88 on Monday. The stock's 50 day moving average price is $36.27 and its 200 day moving average price is $33.50. The firm has a market capitalization of $9.45 billion, a PE ratio of 44.85 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.18. Tetra Tech has a one year low of $27.27 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. Tetra Tech's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. As a group, sell-side analysts expect that Tetra Tech will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.26 annualized dividend and a yield of 0.7%. Tetra Tech's payout ratio is 32.50%.

Tetra Tech Company Profile

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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