Tetra Tech (NASDAQ:TTEK) Hits New 1-Year High – Time to Buy?

Tetra Tech, Inc. (NASDAQ:TTEK) reached a new 52-week high on Wednesday . The company traded as high as $51.20 and last traded at $48.97, with a volume of 186004 shares trading hands. The stock had previously closed at $50.35.

Analyst Ratings Changes

Several research firms have recently commented on TTEK. Robert W. Baird lifted their price objective on Tetra Tech from $44.60 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. KeyCorp lifted their price objective on Tetra Tech from $49.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Royal Bank of Canada boosted their price objective on shares of Tetra Tech from $46.60 to $51.80 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.48.

Tetra Tech Stock Down 5.4 %

The company’s fifty day simple moving average is $47.79 and its 200-day simple moving average is $44.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market capitalization of $12.75 billion, a PE ratio of 46.53 and a beta of 0.94.

Insider Activity at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the transaction, the chief financial officer now owns 112,620 shares in the company, valued at approximately $5,244,713.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’s 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 completion of the sale, the director now owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock worth $5,633,239 over the last three months. Company insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

Several hedge funds have recently made changes to their positions in the company. Nicola Wealth Management LTD. lifted its holdings in shares of Tetra Tech by 533.3% in the 3rd quarter. Nicola Wealth Management LTD. now owns 47,500 shares of the industrial products company’s stock worth $2,240,000 after acquiring an additional 40,000 shares during the last quarter. Black Swift Group LLC purchased a new position in Tetra Tech during the 3rd quarter worth $943,000. Zions Bancorporation N.A. lifted its stake in shares of Tetra Tech by 491.3% in the 3rd quarter. Zions Bancorporation N.A. now owns 76,404 shares of the industrial products company’s stock worth $3,603,000 after acquiring an additional 63,483 shares during the period. Huntington National Bank lifted its stake in shares of Tetra Tech by 431.3% in the 3rd quarter. Huntington National Bank now owns 4,420 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 3,588 shares during the period. Finally, D Orazio & Associates Inc. lifted its stake in shares of Tetra Tech by 400.9% in the 3rd quarter. D Orazio & Associates Inc. now owns 81,841 shares of the industrial products company’s stock worth $3,860,000 after acquiring an additional 65,502 shares during the period. 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.