Tetra Tech (NASDAQ:TTEK) Given New $49.00 Price Target at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its target price trimmed by KeyCorp from $56.00 to $49.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages also recently commented on TTEK. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird increased their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada increased their price target on Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.32.

Tetra Tech Price Performance

Shares of TTEK opened at $41.27 on Friday. The company has a market cap of $11.05 billion, a P/E ratio of 33.55 and a beta of 0.94. The stock has a fifty day moving average price of $47.60 and a 200 day moving average price of $44.58. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.058 per share. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th. Tetra Tech’s dividend payout ratio is 18.70%.

Insider Activity

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. Insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTEK. Allworth Financial LP grew its holdings in Tetra Tech by 629.3% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after buying an additional 472 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in Tetra Tech by 400.0% in the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Tetra Tech in the 2nd quarter valued at approximately $28,000. Venturi Wealth Management LLC grew its holdings in Tetra Tech by 3,261.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock valued at $29,000 after buying an additional 587 shares during the last quarter. Finally, Canton Hathaway LLC lifted its position in shares of Tetra Tech by 400.0% in the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 516 shares during the period. Institutional investors and hedge funds 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.