Tetra Tech (NASDAQ:TTEK) Hits New 52-Week Low – What’s Next?

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

Wall Street Analysts Forecast Growth

TTEK has been the subject of several research analyst reports. KeyCorp cut their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Maxim Group cut shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.52.

Tetra Tech Stock Performance

The firm’s fifty day moving average price is $38.92 and its 200 day moving average price is $43.63. The firm has a market cap of $8.20 billion, a P/E ratio of 32.14 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, topping 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%. Sell-side analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Wednesday, February 12th. Tetra Tech’s dividend payout ratio is currently 24.16%.

Insider Activity at Tetra Tech

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the stock in a transaction dated Tuesday, February 4th. The stock was 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 approximately $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tetra Tech

Several hedge funds have recently modified their holdings of TTEK. Geode Capital Management LLC increased its stake in Tetra Tech by 406.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock valued at $222,466,000 after purchasing an additional 3,785,189 shares in the last quarter. Norges Bank acquired a new position in shares of Tetra Tech in the 4th quarter valued at $121,390,000. Allspring Global Investments Holdings LLC increased its position in shares of Tetra Tech by 387.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock valued at $155,601,000 after acquiring an additional 2,622,288 shares during the period. abrdn plc raised its stake in Tetra Tech by 353.0% in the 3rd 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. lifted its position in Tetra Tech by 357.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after acquiring an additional 1,618,211 shares during the period. Institutional investors and hedge funds 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.