Tetra Tech (NASDAQ:TTEK) Given New $43.00 Price Target at KeyCorp

Key Points

• KeyCorp has raised Tetra Tech's price target to $43.00, suggesting a potential upside of 18.99% from its current stock price, and maintains an "overweight" rating.
• Maxim Group has downgraded Tetra Tech from a "strong-buy" rating to a "hold," while Robert W. Baird increased their target from $31.00 to $33.00 with a "neutral" rating.
• Tetra Tech reported an EPS of $0.43 for the last quarter, exceeding estimates, while the company’s revenue of $1.15 billion matched expectations.

Tetra Tech (NASDAQ:TTEK - Get Free Report) had its price target increased by equities researchers at KeyCorp from $41.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price objective points to a potential upside of 18.99% from the stock's current price.

A number of other research analysts also recently issued reports on TTEK. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird raised their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Tetra Tech currently has a consensus rating of "Hold" and a consensus price target of $41.67.

Tetra Tech Trading Down 1.6%

NASDAQ:TTEK opened at $36.14 on Friday. The stock's 50 day moving average price is $36.26 and its 200 day moving average price is $33.66. The company has a market capitalization of $9.52 billion, a PE ratio of 45.17 and a beta of 0.94. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49. Tetra Tech has a 52-week low of $27.27 and a 52-week 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a return on equity of 24.85% and a net margin of 3.94%. The firm's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 EPS. On average, research analysts anticipate that Tetra Tech will post 1.37 EPS for the current year.

Hedge Funds Weigh In On Tetra Tech

Hedge funds have recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in Tetra Tech in the 1st quarter valued at approximately $25,000. Baillie Gifford & Co. purchased a new position in Tetra Tech in the 1st quarter valued at approximately $27,000. Central Pacific Bank Trust Division purchased a new position in Tetra Tech in the 2nd quarter valued at approximately $32,000. SVB Wealth LLC purchased a new position in Tetra Tech in the 1st quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. increased its stake in 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 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.

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