KeyCorp Cuts Tetra Tech (NASDAQ:TTEK) Price Target to $45.00

Tetra Tech (NASDAQ:TTEK) had its price objective decreased by equities research analysts at KeyCorp from $49.00 to $45.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target indicates a potential upside of 22.28% from the company’s previous close.

TTEK has been the subject of several other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Robert W. Baird lifted their price target on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.52.

Tetra Tech Stock Performance

Shares of TTEK opened at $36.80 on Friday. The stock has a 50 day moving average of $40.75 and a 200 day moving average of $44.21. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44. Tetra Tech has a 12 month low of $31.09 and a 12 month high of $51.20. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 38.66 and a beta of 0.90.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.57%. As a group, sell-side analysts forecast that Tetra Tech will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors have recently made changes to their positions in TTEK. Sarasin & Partners LLP raised its stake in shares of Tetra Tech by 330.9% in the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after purchasing an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tetra Tech by 406.6% in the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after purchasing an additional 3,785,189 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Tetra Tech by 387.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc raised its stake in Tetra Tech by 353.0% during the 3rd quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock valued at $98,477,000 after purchasing an additional 1,644,267 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.