Tetra Tech (NASDAQ:TTEK) Stock Rating Lowered by StockNews.com

Tetra Tech (NASDAQ:TTEK) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

TTEK has been the subject of several other reports. Robert W. Baird upped their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday. Finally, KeyCorp lowered their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Tetra Tech has a consensus rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Stock Performance

Tetra Tech stock traded up $0.31 during midday trading on Friday, hitting $41.27. 4,176,183 shares of the company’s stock were exchanged, compared to its average volume of 1,457,021. The firm’s 50 day simple moving average is $47.60 and its 200 day simple moving average is $44.58. Tetra Tech has a 12-month low of $30.92 and a 12-month high of $51.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 33.50 and a beta of 0.94.

Insiders Place Their Bets

In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.48, for a total value of $302,120.00. Following the sale, the director now directly owns 143,200 shares in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the sale, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 valued at $954,684,000 after purchasing an additional 14,701 shares during the period. Sarasin & Partners LLP increased its stake in shares of Tetra Tech by 330.9% during the 3rd quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock valued at $233,460,000 after acquiring an additional 3,801,435 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tetra Tech by 387.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc boosted its position in shares of Tetra Tech by 353.0% in the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after acquiring an additional 1,644,267 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Tetra Tech by 357.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock valued at $97,644,000 after purchasing an additional 1,618,211 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

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.