Tetra Tech (NASDAQ:TTEK) Rating Increased to Buy 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 report issued on Saturday morning.

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

Tetra Tech Trading Up 2.2%

Shares of Tetra Tech stock traded up $0.82 during midday trading on Friday, reaching $37.37. The company had a trading volume of 2,204,229 shares, compared to its average volume of 2,472,396. The firm has a market cap of $9.85 billion, a PE ratio of 46.71 and a beta of 0.92. Tetra Tech has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.10. The stock has a fifty day moving average price of $36.30 and a 200 day moving average price of $33.46.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business earned $1.59 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts anticipate that Tetra Tech will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

Institutional Investors Weigh In On Tetra Tech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTEK. Chilton Capital Management LLC bought a new position in Tetra Tech in the 1st quarter worth about $25,000. Baillie Gifford & Co. purchased a new stake in shares of Tetra Tech during the first quarter valued at approximately $27,000. Central Pacific Bank Trust Division purchased a new position in Tetra Tech in the 2nd quarter worth approximately $32,000. SVB Wealth LLC bought a new position in Tetra Tech in the 1st quarter valued at approximately $36,000. Finally, Geneos Wealth Management Inc. boosted its stake in Tetra Tech by 136.1% during 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 during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

About Tetra Tech

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.