Intrepid Capital Management Inc Lowers stake in Tetra Tech (TTEK)

Tetra Tech (TTEK) : Intrepid Capital Management Inc reduced its stake in Tetra Tech by 7.97% during the most recent quarter end. The investment management company now holds a total of 754,778 shares of Tetra Tech which is valued at $21.9 Million after selling 65,342 shares in Tetra Tech , the firm said in a disclosure report filed with the SEC on May 13, 2016.Tetra Tech makes up approximately 9.73% of Intrepid Capital Management Inc’s portfolio.

Other Hedge Funds, Including , D.a. Davidson reduced its stake in TTEK by selling 640 shares or 15.49% in the most recent quarter. The Hedge Fund company now holds 3,491 shares of TTEK which is valued at $101,344.Oppenheimerfunds reduced its stake in TTEK by selling 7,538 shares or 22.5% in the most recent quarter. The Hedge Fund company now holds 25,966 shares of TTEK which is valued at $753,793. Menta Capital sold out all of its stake in TTEK during the most recent quarter. The investment firm sold 8,860 shares of TTEK which is valued $257,206.Norges Bank reduced its stake in TTEK by selling 1,365,567 shares or 38.49% in the most recent quarter. The Hedge Fund company now holds 2,182,269 shares of TTEK which is valued at $63.4 Million. Tetra Tech makes up approx 0.03% of Norges Bank’s portfolio.Rhumbline Advisers boosted its stake in TTEK in the latest quarter, The investment management firm added 9,145 additional shares and now holds a total of 115,402 shares of Tetra Tech which is valued at $3.4 Million. Tetra Tech makes up approx 0.01% of Rhumbline Advisers’s portfolio.

Tetra Tech opened for trading at $29.05 and hit $29.7 on the upside on Wednesday, eventually ending the session at $28.95, with a gain of 0.17% or 0.05 points. The heightened volatility saw the trading volume jump to 1,79,105 shares. Company has a market cap of $1,677 M.

On the company’s financial health, Tetra Tech reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.34. The company had revenue of $478.77 million for the quarter, compared to analysts expectations of $466.94 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Tetra Tech. FBR Capital Downgraded Tetra Tech on Apr 29, 2016 to ” Mkt Perform”, Price Target of the shares are set at $32.Wedbush Downgraded Tetra Tech on Apr 20, 2016 to ” Neutral”, Price Target of the shares are set at $31.Sidoti Initiated Tetra Tech on Apr 19, 2016 to “Buy”, Price Target of the shares are set at $40.

Tetra Tech Inc. is a provider of consulting engineering program management construction management and technical services focusing on natural resource management infrastructure energy and the environment. The Company is a full-service company that leads with science. The Company serves public and private clients by addressing the fundamental needs for water natural resources environmental services infrastructure and energy. Its solutions span the entire life cycle of the project and include applied science research and technology engineering design construction management construction operations and maintenance and information technology. The Company operates through four segments: Engineering and Consulting Services (ECS) Technical Support Services (TSS) Engineering and Architecture Services (EAS) and Remediation and Construction Management (RCM).

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