KeyCorp Issues Pessimistic Forecast for Tetra Tech (NASDAQ:TTEK) Stock Price

Tetra Tech (NASDAQ:TTEK) had its target price lowered by research analysts at KeyCorp from $45.00 to $34.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target would suggest a potential upside of 13.41% from the stock’s current price.

Other research analysts have also issued reports about the stock. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.72.

Tetra Tech Price Performance

TTEK stock opened at $29.98 on Wednesday. The firm has a 50 day moving average of $29.87 and a 200-day moving average of $38.61. The firm has a market capitalization of $8.04 billion, a P/E ratio of 31.49 and a beta of 0.89. Tetra Tech has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, sell-side analysts predict that Tetra Tech will post 1.37 earnings per share for the current fiscal year.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the completion of the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd purchased a new position in Tetra Tech during the 4th quarter valued at about $39,000. Asset Planning Inc purchased a new stake in shares of Tetra Tech in the fourth quarter worth $40,000. Jones Financial Companies Lllp increased its stake in Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares in the last quarter. Caption Management LLC purchased a new position in Tetra Tech in the fourth quarter worth about $40,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Tetra Tech by 734.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,483 shares in 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.