Tetra Tech (NASDAQ:TTEK) Sets New 52-Week Low – Should You Sell?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) reached a new 52-week low on Thursday . The stock traded as low as $30.91 and last traded at $30.97, with a volume of 1261672 shares trading hands. The stock had previously closed at $31.45.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TTEK shares. 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 raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. KeyCorp cut their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.52.

Tetra Tech Stock Down 2.1 %

The firm’s 50 day simple moving average is $39.40 and its 200 day simple moving average is $43.78. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 32.33 and a beta of 0.89. The company has a quick ratio of 1.25, a current ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last announced its 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%. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.75%. Tetra Tech’s dividend payout ratio is presently 24.16%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the 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 transaction, the director now directly 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Institutional Trading of Tetra Tech

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock worth $1,032,338,000 after acquiring an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Tetra Tech by 2.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock worth $558,512,000 after purchasing an additional 381,437 shares in the last quarter. Amundi lifted its stake in Tetra Tech by 2.5% during the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after purchasing an additional 117,304 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tetra Tech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock worth $188,487,000 after buying an additional 13,616 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Tetra Tech by 387.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after buying an additional 2,622,288 shares during the last quarter. 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.