Tetra Tech (TTEK) is Downgraded by FBR Capital to Mkt Perform, Price Target at $32

Tetra Tech (TTEK) was Downgraded by FBR Capital to ” Mkt Perform” and the brokerage firm has set the Price Target at $32. Earlier the firm had a rating of “Outperform ” on the company shares. FBR Capital advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on Tetra Tech. 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.Canaccord Genuity Initiated Tetra Tech on Apr 12, 2016 to “Hold”, Price Target of the shares are set at $30.

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.

Tetra Tech closed down -0.025 points or -0.08% at $31.11 with 2,81,275 shares getting traded on Wednesday. Post opening the session at $30.97, the shares hit an intraday low of $30.71 and an intraday high of $31.41 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 2, 2016, William R Brownlie (SVP) sold 6,856 shares at $28.00 per share price. According to the SEC, on Feb 2, 2016, Hugh M Grant (director) sold 8,000 shares at $26.58 per share price. On Feb 2, 2016, J Christopher Lewis (director) sold 5,495 shares at $26.19 per share price, according to the Form-4 filing with the securities and exchange commission.

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).

Tetra Tech

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