Tetra Tech (NASDAQ:TTEK) Upgraded at Wall Street Zen

Key Points

• Tetra Tech has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, reflecting positive sentiment from analysts.
• The company's shares currently have a consensus rating of "Moderate Buy" with an average price target of $41.67, following several recent analyst reports.
• Tetra Tech's latest earnings report showed an EPS of $0.43, exceeding estimates, and a year-over-year revenue growth of 1.9%.

Wall Street Zen upgraded shares of Tetra Tech (NASDAQ:TTEK - Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.

Other analysts have also issued research reports about the company. Maxim Group lowered Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. KeyCorp lifted their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Robert W. Baird lifted their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.67.

Tetra Tech Stock Down 0.6%

Shares of TTEK traded down $0.22 on Friday, reaching $37.15. The stock had a trading volume of 1,540,016 shares, compared to its average volume of 2,465,975. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 46.70 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. The company has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $33.49. Tetra Tech has a 12-month low of $27.27 and a 12-month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $1.59 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Sell-side analysts predict that Tetra Tech will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

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

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors have recently bought and sold shares of the business. Praxis Investment Management Inc. purchased a new stake in Tetra Tech during the 1st quarter valued at approximately $348,000. Cambridge Investment Research Advisors Inc. grew its holdings in Tetra Tech by 39.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock valued at $541,000 after buying an additional 5,275 shares in the last quarter. SG Americas Securities LLC increased its stake in Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after acquiring an additional 33,491 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of Tetra Tech during the 1st quarter worth approximately $590,000. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Tetra Tech by 16.2% during the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock valued at $2,134,000 after acquiring an additional 10,159 shares during the last quarter. Hedge funds and other 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.