Worth Watching: Time to Reconsider Tetra Tech, Inc. After Touching Record High?

Worth Watching: Time to Reconsider Tetra Tech, Inc. After Touching Record High?

The stock of Tetra Tech, Inc. (NASDAQ:TTEK) reached all time high today, Nov, 23 and still has $46.98 target or 9.00% above today’s $43.10 share price. This indicates more upside for the $2.57 billion company. This technical setup was reported by Barchart.com. If the $46.98 PT is reached, the company will be worth $231.30 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 78,418 shares traded hands. Tetra Tech, Inc. (NASDAQ:TTEK) has risen 40.24% since April 21, 2016 and is uptrending. It has outperformed by 34.91% the S&P500.

Analysts await Tetra Tech, Inc. (NASDAQ:TTEK) to report earnings on January, 25. They expect $0.47 EPS, up 20.51% or $0.08 from last year’s $0.39 per share. TTEK’s profit will be $28.03 million for 22.93 P/E if the $0.47 EPS becomes a reality. After $0.59 actual EPS reported by Tetra Tech, Inc. for the previous quarter, Wall Street now forecasts -20.34% negative EPS growth.

Tetra Tech, Inc. (NASDAQ:TTEK) Ratings Coverage

Out of 9 analysts covering TETRA Tech (NASDAQ:TTEK), 4 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 44% are positive. TETRA Tech has been the topic of 12 analyst reports since November 9, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Stifel Nicolaus given on Tuesday, January 5. The firm earned “Neutral” rating on Wednesday, April 20 by Wedbush. As per Friday, July 29, the company rating was maintained by FBR Capital. As per Monday, November 9, the company rating was maintained by Wunderlich. The stock of Tetra Tech, Inc. (NASDAQ:TTEK) has “Perform” rating given on Monday, April 18 by Oppenheimer. Sidoti initiated the shares of TTEK in a report on Tuesday, April 19 with “Buy” rating. As per Friday, November 11, the company rating was downgraded by KeyBanc Capital Markets. Wedbush maintained the shares of TTEK in a report on Friday, January 29 with “Outperform” rating. FBR Capital downgraded Tetra Tech, Inc. (NASDAQ:TTEK) on Friday, April 29 to “Market Perform” rating. The rating was upgraded by JP Morgan on Tuesday, November 10 to “Overweight”.

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 increased to 1.04 in 2016 Q2. Its up 0.01, from 1.03 in 2016Q1. The ratio improved, 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.
Bessemer Gru accumulated 0% or 6,965 shares. Walleye Trading Limited Co holds 0% of its portfolio in Tetra Tech, Inc. (NASDAQ:TTEK) for 800 shares. Value Lp holds 220,500 shares or 4.35% of its portfolio. The New York-based Morgan Stanley has invested 0% in Tetra Tech, Inc. (NASDAQ:TTEK). Babson Ltd Liability Co owns 6,700 shares or 0.01% of their US portfolio. Marshall Wace Llp holds 0.01% or 26,705 shares in its portfolio. Quantbot Techs Lp has 302 shares for 0% of their US portfolio. Denver Invest Llc has 0.89% invested in the company for 638,523 shares. The Georgia-based Suntrust Banks has invested 0.01% in Tetra Tech, Inc. (NASDAQ:TTEK). The New York-based Ingalls And Snyder Lc has invested 0.02% in Tetra Tech, Inc. (NASDAQ:TTEK). South Dakota Inv Council has invested 0.13% of its portfolio in Tetra Tech, Inc. (NASDAQ:TTEK). Envestnet Asset Mgmt Incorporated owns 5,346 shares or 0% of their US portfolio. Tortoise Capital Advisors Ltd Co has invested 0% of its portfolio in Tetra Tech, Inc. (NASDAQ:TTEK). Cibc Asset Mgmt holds 7,090 shares or 0% of its portfolio. Royal Savings Bank Of Canada last reported 1.02 million shares in the company.

Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 14 sales for $6.66 million net activity. Shares for $559,785 were sold by SHOEMAKER LESLIE L. 29,413 shares were sold by CHU RONALD J, worth $941,216. Shares for $199,650 were sold by MCDONALD KEVIN P. Another trade for 8,000 shares valued at $262,038 was made by THOMPSON J KENNETH on Wednesday, August 3. 16,750 shares were sold by BURDICK STEVEN M, worth $523,138. Shares for $282,375 were sold by LEMMON RICHARD A. CHRISTENSEN CRAIG L also sold $586,250 worth of Tetra Tech, Inc. (NASDAQ:TTEK) on Tuesday, August 23.

More recent Tetra Tech, Inc. (NASDAQ:TTEK) news were published by: Streetinsider.com which released: “Form 4 TETRA TECH INC For: Nov 18 Filed by: LEMMON RICHARD A” on November 23, 2016. Also Prnewswire.com published the news titled: “SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Tetra Tech …” on September 21, 2016. Businesswire.com‘s news article titled: “Tetra Tech Expands Water Data Management Services with Acquisition of INDUS …” with publication date: March 14, 2016 was also an interesting one.

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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