August 14, 2023 – Tetra Tech: A Detailed Analysis of Recent Financial Performance and Insider Trading
There has been significant activity surrounding the stock of Tetra Tech in recent months, with research analysts providing mixed reports on its performance. StockNews.com, for example, downgraded their rating from “buy” to “hold” on May 23rd, while Maxim Group increased its price target to $215.00. Additionally, Robert W. Baird raised their target price from $157.00 to $172.00.
In other news, Director J Kenneth Thompson made a notable transaction on June 2nd, selling 5,000 shares of Tetra Tech at an average price of $152.31 per share, totaling a value of $761,550.00. Following this sale, Thompson now holds 20,336 shares valued at approximately $3,097,376.16. This transaction was disclosed through an official filing with the Securities & Exchange Commission (SEC).
Furthermore, SVP Brian N. Carter sold 2,234 shares on June 7th at an average price of $156.91 per share, amounting to a total transaction value of $350,536.94. After completing this sale, Carter currently possesses 7,818 shares worth about $1,226,
722.
It is worth noting that insiders have collectively sold a total of 9,734 shares amounting to a value of $1,
502,
612 in the last quarter alone. With insiders owning only approximately 0.
76% of the company’s stock,
these transactions may have a limited impact on overall market sentiment.
Turning our attention to the market performance of Tetra Tech (NASDAQ:TTEK), the stock opened at $168.
39 on August 14th.
Over the past year,
the company has experienced a low point at $122.
86 and reached a high of $173.
27, reflecting notable volatility in its trading activity.
At present, Tetra Tech boasts a market capitalization of $8.
96 billion,
a price-to-earnings (P/E) ratio of 29.
80,
and a beta value of 1.
00.
These figures indicate the company’s considerable size and suggest potential fluctuations in its stock price compared to the broader market.
Moreover, Tetra Tech displays a 50-day simple moving average (SMA) of $164.
87 and a 200-day SMA of $150.51.
These indicators provide insights into short-term and long-term trends, respectively.
With regards to the financial position of the company, Tetra Tech holds a debt-to-equity ratio of 0.62, signifying its moderate reliance on debt financing.
The quick ratio, measuring the ability to cover short-term obligations with liquid assets, is currently at 1.25, indicating acceptable liquidity for the company.
Additionally, it possesses a current ratio of 1.17 reflecting its overall capacity to meet all current liabilities comfortably.
In conclusion, Tetra Tech has recently undergone various changes in terms of analyst ratings and insider trading activities.
While research analysts have expressed differing opinions about its stock performance,
insider transactions by key personnel impact overall sentiment to a limited extent.
The recent sale made by Director J Kenneth Thompson brought attention due to the significant value involved and was disclosed through an official filing with the SEC. The sale made by SVP Brian N. Carter also merits consideration but remains secondary in significance compared to that made by Thompson.
Tetra Tech’s market capitalization highlights its prominent standing within the industry,
and its P/E ratio signifies fair valuation relative to earnings. Investors should remain attentive to ongoing developments as volatility within this stock can be expected based on historical data.
Finally,
the company’s strong financial position is evidenced by healthy liquidity ratios and manageable levels of debt. This bodes well for its ability to fulfill short-term obligations while pursuing long-term growth strategies.
Investors and analysts alike should continue monitoring Tetra Tech’s performance closely, as events unfold in the coming months.
Tetra Tech, Inc.
TTEK
Strong Buy
Updated on: 14/08/2023
Positive Outlook and Strong Financial Performance Drive Higher Estimates for Tetra Tech, Inc. (TTEK)
Tetra Tech, Inc. (NASDAQ:TTEK), an industrial products company, has received a positive outlook from stock analysts at KeyCorp. In a research report issued on August 10th, KeyCorp analyst S. Eastman raised their FY2023 EPS estimates for Tetra Tech. They now expect the company to post earnings of $5.27 per share for the year, up from their previous estimate of $5.12. With this update, KeyCorp currently rates Tetra Tech as “Overweight” and has set a price objective of $200.00 for the stock.
According to consensus estimates, Tetra Tech’s current full-year earnings are also anticipated to be $5.27 per share. Furthermore, KeyCorp provided estimates for the company’s FY2024 earnings at $6.37 EPS and FY2025 earnings at $7.70 EPS.
In other news related to Tetra Tech, Director J Kenneth Thompson sold 5,000 shares of the company’s stock in a transaction that took place on June 2nd. The shares were sold at an average price of $152.31 each, resulting in a total value of $761,550.00. Following this sale, Thompson now holds 20,336 shares of Tetra Tech’s stock valued at approximately $3,097,376.16.
The transaction was properly disclosed through a filing with the Securities & Exchange Commission (SEC), available on the SEC website.
Additionally, Senior Vice President Brian N. Carter sold 2,234 shares of Tetra Tech’s stock on June 7th at an average price of $156.91 per share, resulting in a total transaction value of $350,536.94. After completing this transaction, Carter now owns 7,818 shares valued at approximately $1,226,
722.38.
Insiders have collectively sold 9,734 shares of Tetra Tech’s company stock in the most recent quarter, representing a value of $1,502,612. Overall, insiders own 0.76% of the company’s stock.
On August 9th, Tetra Tech announced its earnings results for the quarter, with an impressive $1.29 earnings per share (EPS). This surpassed analysts’ consensus estimates of $1.18 EPS by $0.11. Furthermore, Tetra Tech achieved a net margin of 7.27% and a return on equity of 20.41%. The company reported revenue of $1.21 billion during the quarter, significantly surpassing analyst expectations of $959.52 million. Compared to the same quarter last year, Tetra Tech’s revenue for this period increased by 67.9%.
Notably, Tetra Tech also recently declared a quarterly dividend scheduled to be paid on September 6th to shareholders who were recorded on August 23rd. Stockholders will receive a dividend of $0.26 per share, amounting to an annualized dividend payout ratio of 18.41%. The ex-dividend date for this payment is set for August 22nd.
These recent developments and positive financial performance indicate a promising outlook for Tetra Tech in the industrial products sector going forward.END
