On September 13, 2023, Equities research analysts at William Blair initiated coverage on shares of Tetra Tech (NASDAQ:TTEK) in a research report, according to Briefing.com. The brokerage assigned an “outperform” rating to the industrial products company’s stock.
NASDAQ:TTEK opened at $154.53 on Wednesday, with a market cap of $8.19 billion. The company has a price-to-earnings ratio of 27.35 and a beta of 0.99. Over the past year, Tetra Tech’s stock has fluctuated between a low of $122.86 and a high of $173.27. With a debt-to-equity ratio of 0.62 and quick ratio and current ratio both standing at 1.17, the company appears to be in a stable financial position. Notably, the stock boasts a fifty-day moving average price of $164.20 and a 200-day moving average price of $152.18.
Tetra Tech, Inc is a global provider of consulting and engineering services that operates through two segments: Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers various services including data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services. Additionally, the segment provides climate change and energy management consulting as well as greenhouse gas inventory assessment, certification, reduction, and management services.
In its latest quarterly earnings announcement on August 9th , Tetra Tech reported earnings per share (EPS) of $1.29 for the quarter – surpassing analysts’ consensus estimates by $0.11 per share ($1.18 was anticipated). The company generated revenue amounting to $1.21 billion during the quarter compared to the consensus estimate of $959.52 million – an impressive growth of 67.9% year-on-year. Tetra Tech’s return on equity stood at 20.41% and it achieved a net margin of 7.27%. In the same quarter of the previous year, the company earned $1.08 per share.
Overall, equities analysts anticipate that Tetra Tech will post earnings per share of 5.27 for the current fiscal year.
With William Blair’s positive “outperform” rating and Tetra Tech’s strong financial performance in recent quarters, investors may find this stock an interesting option to consider.
Note: This article is purely informational and should not be taken as financial advice. Interested parties should conduct their own research and consult with a qualified financial advisor before making any investment decisions based on the information provided here.
Tetra Tech’s Stock: Analyst Reports and Investor Interest
In the ever-evolving world of equities research, analysts are constantly providing their insights and predictions on various companies. Recently, a number of equities research analysts have issued reports about Tetra Tech, a prominent industrial products company. These reports shed light on the target price for Tetra Tech’s stock and provide ratings to help investors make informed decisions.
One such report came from KeyCorp, which increased Tetra Tech’s target price from $185.00 to $200.00. Additionally, they gave the stock an “overweight” rating in their research note released on August 11th. This suggests that KeyCorp believes Tetra Tech’s stock is undervalued and has significant growth potential.
Another equities research firm, Robert W. Baird, also raised their target price for Tetra Tech from $157.00 to $172.00 in a research report published on August 10th. This indicates that Robert W. Baird sees positive prospects for Tetra Tech and expects its stock price to rise.
Royal Bank of Canada joined in with their own analysis by initiating coverage on Tetra Tech on August 28th. They assigned the company an “outperform” rating and set a price objective of $181.00. With this rating, Royal Bank of Canada indicates that they believe Tetra Tech will outperform its competitors in the market.
Maxim Group provided another perspective by raising their target price on Tetra Tech to $215.00 in a research report issued on August 11th. This signifies Maxim Group’s confidence in the future performance of Tetra Tech’s stock and suggests potential for significant gains.
However, not all reports are as optimistic about Tetra Tech’s prospects. StockNews.com recently initiated coverage on the company with a “hold” rating in their research report published on August 17th.
Taking into account these diverse opinions, it is clear that there is variation among equities research analysts regarding Tetra Tech. Two analysts have given the stock a hold rating, while three have issued a buy rating. Bloomberg data indicates that the company currently holds a consensus rating of “Moderate Buy” and has a consensus target price of $192.00.
Turning our attention to hedge funds, it is worth noting that several have recently bought and sold shares of Tetra Tech. Exchange Traded Concepts LLC, for instance, acquired a new position in Tetra Tech during the first quarter with an estimated value of approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA also bought a new position in Tetra Tech during the second quarter, totaling around $29,000.
Parallel Advisors LLC raised its stake in Tetra Tech by 109% during the first quarter, indicating their growing belief in the company’s potential. Similarly, ST Germain D J Co. Inc. purchased a new stake in Tetra Tech in the fourth quarter for approximately $33,000.
Denali Advisors LLC demonstrated their confidence in Tetra Tech by raising their holdings in the company by 92.6% during the second quarter. Their increased investment signifies Denali Advisors’ conviction that Tetra Tech will generate favorable returns.
When considering institutional investors as a whole, they currently own 87.95% of Tetra Tech’s stock. This demonstrates that these influential entities recognize the value and potential profitability of investing in this industrial products company.
As always, it is important for investors to thoroughly analyze all available information before making investment decisions. The range of opinions offered by equities research analysts, combined with insights from hedge funds and institutional investors, can help provide a comprehensive picture of Tetra Tech’s current standing and future prospects.
In conclusion, amid varying viewpoints and recommendations from equities research analysts, one thing remains clear: Tetra Tech has attracted attention from both individual investors and institutions alike. The company’s target price, ratings, and investments from notable hedge funds and institutional investors indicate a level of interest and confidence in Tetra Tech’s potential growth. Nonetheless, it is crucial for investors to perform their own in-depth analysis and carefully assess all available information to make informed investment decisions in the ever-fluctuating market.