Tetra Tech (NASDAQ:TTEK) Sets New 52-Week Low – Here’s Why

Tetra Tech, Inc. (NASDAQ:TTEK)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $30.13 and last traded at $30.47, with a volume of 79727 shares changing hands. The stock had previously closed at $30.53.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. KeyCorp decreased their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Maxim Group downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Robert W. Baird increased their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tetra Tech presently has an average rating of “Moderate Buy” and a consensus price target of $48.52.

Tetra Tech Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $8.02 billion, a PE ratio of 31.44 and a beta of 0.89. The firm has a fifty day moving average price of $37.97 and a 200 day moving average price of $43.26.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s dividend payout ratio is currently 24.16%.

Insider Buying and Selling at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the completion of the sale, the director now owns 60,196 shares of the company’s stock, valued at approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in Tetra Tech by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock worth $2,172,000 after buying an additional 400 shares during the last quarter. Nordea Investment Management AB grew its position in Tetra Tech by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after acquiring an additional 411 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Tetra Tech by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 438 shares during the last quarter. LGT Financial Advisors LLC raised its holdings in shares of Tetra Tech by 400.0% during the 3rd quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 444 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Tetra Tech by 13.0% in the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 461 shares during 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.