Tetra Tech (NASDAQ:TTEK) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Tetra Tech (NASDAQ:TTEK) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $52.00 price target on the industrial products company’s stock.

Several other brokerages have also recently weighed in on TTEK. KeyCorp decreased their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note 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. According to data from MarketBeat.com, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Trading Down 0.4 %

Shares of TTEK stock opened at $41.12 on Friday. The stock has a 50-day simple moving average of $47.60 and a 200 day simple moving average of $44.58. Tetra Tech has a fifty-two week low of $30.92 and a fifty-two week high of $51.20. The stock has a market capitalization of $11.01 billion, a P/E ratio of 33.38 and a beta of 0.94. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 0.44.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. Tetra Tech’s dividend payout ratio (DPR) is currently 18.67%.

Insider Activity

In related news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the transaction, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of Tetra Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total transaction of $302,120.00. Following the transaction, the director now directly owns 143,200 shares of the company’s stock, valued at $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock worth $5,633,239. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

Several institutional investors have recently added to or reduced their stakes in TTEK. US Bancorp DE lifted its holdings in Tetra Tech by 43.3% during the 1st quarter. US Bancorp DE now owns 3,270 shares of the industrial products company’s stock valued at $604,000 after purchasing an additional 988 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tetra Tech by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after acquiring an additional 14,701 shares during the last quarter. Edgestream Partners L.P. raised its stake in shares of Tetra Tech by 355.8% in the first quarter. Edgestream Partners L.P. now owns 9,302 shares of the industrial products company’s stock worth $1,718,000 after acquiring an additional 7,261 shares during the last quarter. Covestor Ltd raised its stake in shares of Tetra Tech by 421.1% in the first quarter. Covestor Ltd now owns 495 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 400 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in shares of Tetra Tech by 8.3% in the first quarter. Bahl & Gaynor Inc. now owns 41,546 shares of the industrial products company’s stock worth $7,674,000 after acquiring an additional 3,200 shares during the last quarter. 93.89% of the stock is owned by 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.