Tetra Tech (NASDAQ:TTEK) Shares Down 4.9% – What’s Next?

Shares of Tetra Tech, Inc. (NASDAQ:TTEK) traded down 4.9% during mid-day trading on Thursday . The company traded as low as $40.16 and last traded at $39.75. 337,132 shares changed hands during trading, a decline of 76% from the average session volume of 1,395,518 shares. The stock had previously closed at $41.78.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Robert W. Baird raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. KeyCorp reduced their price target on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Tetra Tech currently has an average rating of “Moderate Buy” and an average price target of $49.32.

Tetra Tech Price Performance

The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50 day moving average price is $41.06 and its 200-day moving average price is $44.30. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 31.14 and a beta of 0.90.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 annualized dividend and a yield of 0.60%. Tetra Tech’s dividend payout ratio (DPR) is 18.67%.

Institutional Investors Weigh In On Tetra Tech

Several large investors have recently modified their holdings of TTEK. Allworth Financial LP lifted its holdings in shares of Tetra Tech by 629.3% during the third quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 472 shares during the last quarter. LGT Financial Advisors LLC lifted its stake in Tetra Tech by 400.0% during the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock valued at $26,000 after buying an additional 444 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after buying an additional 587 shares during the period. Canton Hathaway LLC boosted its holdings in shares of Tetra Tech by 400.0% in the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock worth $30,000 after buying an additional 516 shares during the period. Finally, USA Financial Formulas increased its position in shares of Tetra Tech by 332.3% in the third quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 545 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

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.