The stock of Tetra Tech, Inc. (NASDAQ:TTEK) hit a new 52-week high and has $50.09 target or 38.00% above today’s $36.30 share price. The 6 months bullish chart indicates low risk for the $2.12B company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $50.09 price target is reached, the company will be worth $805.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 156,594 shares traded hands. Tetra Tech, Inc. (NASDAQ:TTEK) has risen 29.70% since March 4, 2016 and is uptrending. It has outperformed by 21.66% the S&P500.
Analysts await Tetra Tech, Inc. (NASDAQ:TTEK) to report earnings on November, 9. They expect $0.59 earnings per share, up 18.00% or $0.09 from last year’s $0.5 per share. TTEK’s profit will be $34.46M for 15.38 P/E if the $0.59 EPS becomes a reality. After $0.50 actual earnings per share reported by Tetra Tech, Inc. for the previous quarter, Wall Street now forecasts 18.00% EPS growth.
Tetra Tech, Inc. (NASDAQ:TTEK) Ratings Coverage
Out of 8 analysts covering TETRA Tech (NASDAQ:TTEK), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. TETRA Tech has been the topic of 11 analyst reports since November 9, 2015 according to StockzIntelligence Inc. Canaccord Genuity upgraded the stock to “Buy” rating in Tuesday, May 31 report. The stock of Tetra Tech, Inc. (NASDAQ:TTEK) earned “Hold” rating by Stifel Nicolaus on Tuesday, January 5. FBR Capital downgraded the shares of TTEK in a report on Friday, April 29 to “Market Perform” rating. FBR Capital maintained it with “Mkt Perform” rating and $36 target price in Friday, July 29 report. On Tuesday, November 10 the stock rating was upgraded by JP Morgan to “Overweight”. The firm earned “Outperform” rating on Friday, January 29 by Wedbush. Wedbush downgraded Tetra Tech, Inc. (NASDAQ:TTEK) on Wednesday, April 20 to “Neutral” rating. The rating was downgraded by Oppenheimer to “Perform” on Monday, April 18. The company was initiated on Tuesday, April 19 by Sidoti. Oppenheimer maintained it with “Outperform” rating and $29 target price in Friday, January 29 report.
According to Zacks Investment Research, “TETRA TECH, INC. provides comprehensive environmental engineering and consulting services addressing complex water contamination and other environmental problems. These services are directed to a broad base of public and private sector clients and include substantially all types of engineering and consulting services in the environmental area, such as water chemistry, geohydrology, soil science, water and wastewater treatment, hydrodynamics, geology, air quality and civil engineering.”
Insitutional Activity: The institutional sentiment decreased to 1.03 in Q2 2016. Its down 0.17, from 1.2 in 2016Q1. The ratio fall, as 19 funds sold all Tetra Tech, Inc. shares owned while 76 reduced positions. 24 funds bought stakes while 74 increased positions. They now own 47.53 million shares or 8.34% less from 51.85 million shares in 2016Q1.
Becker Cap Mgmt holds 0.03% of its portfolio in Tetra Tech, Inc. (NASDAQ:TTEK) for 21,510 shares. Denver Advisors Ltd Liability Com has invested 0.89% of its portfolio in Tetra Tech, Inc. (NASDAQ:TTEK). Hsbc Public Limited Company holds 0% or 11,336 shares in its portfolio. Richard Bernstein Advsr Limited Liability Com holds 105,154 shares or 0.31% of its portfolio. Lsv Asset Mgmt, a Illinois-based fund reported 1.75 million shares. Price T Rowe Assoc Inc Md reported 23,435 shares or 0% of all its holdings. Jupiter Asset Mgmt Ltd holds 14,302 shares or 0.02% of its portfolio. Systematic Management Lp last reported 0.18% of its portfolio in the stock. Lombardia Capital Partners reported 656,501 shares or 1.33% of all its holdings. Moreover, Ahl Prtnrs Limited Liability Partnership has 0.23% invested in Tetra Tech, Inc. (NASDAQ:TTEK) for 139,718 shares. The Georgia-based Cornercap Counsel has invested 0.11% in Tetra Tech, Inc. (NASDAQ:TTEK). Philadelphia Tru Co has 36,704 shares for 0.1% of their US portfolio. The New York-based Rockefeller Svcs has invested 0.01% in Tetra Tech, Inc. (NASDAQ:TTEK). Tiaa Cref Inv Mgmt Ltd Liability Co has 0.01% invested in the company for 227,414 shares. Invesco Ltd owns 698,814 shares or 0.01% of their US portfolio.
Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 14 sales for $6.55 million net activity. Shares for $523,138 were sold by BURDICK STEVEN M on Monday, July 11. HADEN PATRICK C also sold $241,123 worth of Tetra Tech, Inc. (NASDAQ:TTEK) on Monday, May 2. $559,785 worth of Tetra Tech, Inc. (NASDAQ:TTEK) shares were sold by SHOEMAKER LESLIE L. On Wednesday, August 3 the insider THOMPSON J KENNETH sold $262,038. SALIN JANIS B sold $536,000 worth of stock. CHRISTENSEN CRAIG L had sold 16,750 shares worth $586,250 on Tuesday, August 23. Another trade for 1,551 shares valued at $46,231 was sold by CARTER BRIAN N.
More important recent Tetra Tech, Inc. (NASDAQ:TTEK) news were published by: 247Wallst.com which released: “Tetra Tech Receives $400 Million Contract From US Department of Energy” on October 03, 2016, also Businesswire.com published article titled: “Tetra Tech Expands Water Data Management Services with Acquisition of INDUS …”, Businesswire.com published: “USAID and NASA Award Tetra Tech Geospatial Technology Contract in West Africa” on July 18, 2016. More interesting news about Tetra Tech, Inc. (NASDAQ:TTEK) was released by: Businesswire.com and their article: “Tetra Tech Reports Second Quarter 2016 Results” with publication date: April 27, 2016.
TTEK Company Profile
Tetra Tech, Inc., incorporated on February 4, 1988, is a well-known provider of consulting, engineering, program management, construction management, and technical services. The Company’s divisions include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services. The RME segment provides consulting and engineering services across the world for a range of resource management and energy needs. The Firm includes wind-down of its non-core construction activities in the RCM segment. The Company’s solutions span the entire life cycle of consulting and engineering projects and include applied science, research and technology, engineering, design, construction management, activities and maintenance, and information technology. It provides its services to a diverse base of international, the United States commercial, the United Sates federal clients.
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