Tetra Tech (NASDAQ:TTEK) Shares Gap Down – Time to Sell?

Tetra Tech, Inc. (NASDAQ:TTEK) gapped down prior to trading on Thursday . The stock had previously closed at $47.35, but opened at $43.10. Tetra Tech shares last traded at $43.92, with a volume of 1,328,776 shares trading hands.

Analyst Ratings Changes

TTEK has been the topic of a number of analyst reports. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. 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 report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price objective on shares of Tetra Tech in a research note on Friday. Finally, KeyCorp cut their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.32.

Tetra Tech Price Performance

The firm has a market cap of $11.05 billion, a PE ratio of 33.50 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.21. The business’s fifty day moving average is $47.60 and its 200-day moving average is $44.58.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.058 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.23 annualized dividend and a dividend yield of 0.56%. Tetra Tech’s payout ratio is currently 18.67%.

Insider Buying and Selling

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of Tetra Tech stock in a transaction dated 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 transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s 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 sale, the chief financial officer now owns 112,620 shares in the company, valued at $5,244,713.40. The trade was a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tetra Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its position in shares of Tetra Tech by 630.8% in the third quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock valued at $1,718,000 after purchasing an additional 31,445 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Tetra Tech by 615.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock valued at $1,052,000 after buying an additional 19,193 shares in the last quarter. SFE Investment Counsel increased its position in shares of Tetra Tech by 374.8% during the third quarter. SFE Investment Counsel now owns 36,330 shares of the industrial products company’s stock valued at $1,713,000 after buying an additional 28,679 shares during the period. VELA Investment Management LLC lifted its holdings in shares of Tetra Tech by 703.9% in the third quarter. VELA Investment Management LLC now owns 58,510 shares of the industrial products company’s stock worth $2,759,000 after buying an additional 51,232 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Tetra Tech by 401.8% in the third quarter. US Bancorp DE now owns 17,093 shares of the industrial products company’s stock valued at $806,000 after acquiring an additional 13,687 shares during the period. Institutional investors 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.