Tetra Tech (TTEK) Receives a Buy from Boenning & Scattergood
In a report released today, Ryan Connors from Boenning & Scattergood reiterated a Buy rating on Tetra Tech (TTEK), with a price target of $80. The company’s shares closed on Tuesday at $55.27.
“We reiterate our Outperform rating for TTEK; our $80 target price reflects a forward P/E of 24.3 times, a ~10% premium to the water infrastructure peer group average of 22.5 times that we believe is justified by the company’s top-flight competitive position and robust growth outlook.”
According to TipRanks.com, Connors is a 4-star analyst with an average return of 6.3% and a 64.0% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on Tetra Tech is a Moderate Buy with an average price target of $77.75.
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The company has a one-year high of $72.56 and a one-year low of $44.65. Currently, Tetra Tech has an average volume of 279.8K.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.
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Tetra Tech, Inc. engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG); Commercial and International Services Group (CIG); and Remediation and Construction Management (RCM).