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TTEK $40.2

TTEK target price
40.20
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Tetra Tech
Type
Public
Traded as NASDAQ: TTEK
S&P 600 Component
Industry Professional services
Founded 1966
Headquarters Pasadena, California, United States
Number of locations
400
Area served
Worldwide
Revenue Increase$2.6 billion (FY2016)
Number of employees
16,000
Divisions Water, Environment & Infrastructure, Resource Management & Energy
Website tetratech.com

Tetra Tech, Inc. provides consulting, engineering, program management, and construction management services that address fundamental needs for water, environment, infrastructure, resource management, and energy. Tetra Tech’s services for consulting and engineering projects include applied science, information technology, engineering, design, construction management, and operations and maintenance.

Engineering News-Record ranked Tetra Tech number one in water treatment/desalination, water treatment and supply, environmental management, environmental science, consulting studies, and solid waste.

Tetra Tech is listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) as TTEK.

Headquartered in Pasadena, California, Tetra Tech has 16,000 associates in 400 offices worldwide. In 2016, Tetra Tech worked on more than 62,000 separate projects in more than 110 countries. Its clients include U.S. commercial, U.S. federal, and U.S. state and local government clients. Commercial clients include companies in the chemical, energy, mining, pharmaceutical, retail, aerospace, automotive, petroleum, and communications industries. No single client, except for U.S. federal government clients, accounted for more than 10 percent of the company’s revenue in fiscal 2014.

The company is organized in two business groups: Water, Environment & Infrastructure (WEI) and Resource Management & Energy (RME).

Tetra Tech, Inc. was founded in 1966—then Water Management Group of Tetra Tech Inc.—by four individuals in Pasadena, California, to provide engineering services to waterways, harbors, and coastal areas. The company has increased its size and scope of business substantially through internal growth and strategic acquisitions. At the end of 2014 Tetra Tech reported gross revenues of $2.5 billion.

Tetra Tech achieved steady growth during its first years designing waterway structures at harbors, ports, and marinas; supporting water quality control projects; supporting oil and gas exploration projects; and calculating the effects of offshore military activities for the Department of Defense.

In 1977 Tetra Tech offered common stock on the American Stock Exchange and used this capital to expand its services, from developing methods to predict the level and frequency of floods and causes of acid rain to environmental impact studies of gas pipeline construction and installing Hydro Products equipment for the U.S. Navy. By 1979, Tetra Tech was helping to analyze data used in exploring Alaska’s North Slope for oil.

In 1982 Honeywell, Inc. purchased Tetra Tech’s U.S. operations and another group acquired Tetra Tech International. Under Honeywell, Tetra Tech’s engineering services, especially environmental, grew steadily. The company phased out gas exploration and related products and phased in data systems.

In 1988 Honeywell sold Tetra Tech’s engineering division to a group of company employees. Dr. Li-San Hwang, who joined the company in 1967, led the new independent Tetra Tech. Honeywell retained the data systems division and a Tetra Tech co-founder to head it. Since its split from Honeywell, the company has grown from 300 employees to more than 13,000.

In 1991 Tetra Tech issued 1.4 million shares of stock on the NASDAQ exchange. The rapid infusion of cash permitted more acquisitions of engineering firms specializing in water resources (urban drainage and flood control), civil engineering (bridges and waterway design), environmental restoration, and hazardous waste cleanup. Gross revenues totaled $96.5 million by 1994.

During the early 2000s, the company’s environmental remediation and water services continued to grow. There was also a transition in executive leadership. In 2005 Dr. Hwang retired, and Dan Batrack, who joined Tetra Tech in the early 1980s, became CEO. His vision of Tetra Tech’s future included servicing new markets in environmental sustainability, renewable energy, and energy efficiency; providing its core services to mining, energy exploration and production, and international development; and construction management.

The remainder of the decade to 2014 involved aggressive growth by acquiring firms in Canada, Australia, and South America in its core (water and infrastructure) and new markets (mining and energy). Tetra Tech also acquired firms that provided international development services to the U.S. Agency for International Development (USAID). These new acquisitions focused on implementing sustainable strategies for water, energy, and the environment in Africa, Asia, and South America and facilitating stability and growth in countries in the aftermath of social conflicts or failed governing institutions.

In 2016, Tetra Tech admitted to providing faked soil samples in San Francisco after being hired to monitor levels of radionuclides, pesticides, petroleum, and other byproducts of shipbuilding and Cold War nuclear experimentation.

Tetra Tech received numerous awards for its work in several markets. Among those awards are 31 Federal Energy and Water Management Awards for its projects; 19 Secretary of the Navy Energy Awards for its Navy projects; and 7 Presidential Energy Awards for Leadership in Federal Energy Management. In 2012 the company received the American Council of Engineering Companies’ highest award—The Grand Conceptor—for the Inner Harbor Navigation Canal – Lake Borgne Surge Barrier in New Orleans. The National Safety Council awarded Dan Batrack its 2012 “CEOs Who Get It” award for the firm’s companywide safety excellence. Since 2008 the Environmental Business Journal has given Tetra Tech several awards in its Large Business category for achievement in growth and acquisitions. In 2013 the Small Business Administration awarded Tetra Tech the Dwight D. Eisenhower Award for Excellence for Services for mentoring and subcontracting small businesses in federal procurement.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2022 2022-11-15 Future report Set alerts
Q3 2022 2022-08-03 1.08 1.08
Q2 2022 2022-05-04 0.00 0.00
Q1 2022 2022-02-02 1.19 1.19
Q4 2021 2021-11-17 1.05 1.05
Q3 2021 2021-07-28 0.95 0.95
Q2 2021 2021-04-28 0.83 0.83
Q1 2021 2021-01-27 0.96 0.96
Q4 2020 2020-11-11 0.00 0.00
Q3 2020 2020-07-29 0.78 0.83

Ratings

2016-07-07 Reiterated Rating Canaccord Genuity Buy $37.00
2016-05-31 Upgrade Canaccord Genuity Hold to Buy
2016-04-29 Reiterated Rating Canaccord Genuity Hold $30.00
2016-04-29 Downgrade FBR & Co. Outperform to Market Perform $32.00
2016-04-29 Downgrade FBR & Co Outperform to Market Perform $32.00
2016-04-28 Downgrade Oppenheimer Hold
2016-04-28 Downgrade Oppenheimer Holdings Inc. Hold
2016-04-20 Downgrade Wedbush Outperform to Neutral $31.00
2016-04-19 Initiated Coverage Sidoti Buy
2016-04-18 Downgrade Oppenheimer Outperform to Market Perform
2016-04-11 Initiated Coverage Canaccord Genuity Hold $30.00
2016-04-11 Reiterated Rating Seaport Global Securities Buy
2016-03-28 Downgrade Scotia Howard Weill Outperform to Sector Perform
2016-03-28 Downgrade Scotiabank Outperform to Sector Perform
2016-02-01 Reiterated Rating FBR & Co. Outperform $32.00
2016-01-29 Boost Price Target Wedbush Outperform $30.00 to $31.00
2016-01-29 Boost Price Target Oppenheimer Outperform $28.00 to $29.00
2016-01-05 Initiated Coverage Stifel Nicolaus Hold
2015-11-12 Downgrade Seaport Global Securities Accumulate to Buy
2015-07-08 Upgrade Wedbush Neutral to Outperform $29.00 to $30.00
2015-05-13 Boost Price Target FBR & Co. Buy $28.00 to $30.00
2015-05-09 Reiterated Rating DA Davidson Neutral $26.00 to $29.00
2015-01-30 Lower Price Target Stifel Nicolaus Buy $30.00 to $27.00
2015-01-29 Reiterated Rating Brean Capital Buy $29.00
2015-01-05 Lower Price Target Stifel Nicolaus Buy $32.00 to $30.00
2014-11-18 Upgrade Global Hunter Securities Accumulate to Buy $29.00 to $31.00
2014-11-18 Upgrade Seaport Global Securities Accumulate to Buy $29.00 to $31.00
2014-11-17 Boost Price Target Oppenheimer Outperform $28.00 to $31.00
2014-11-14 Boost Price Target DA Davidson Neutral $27.00 to $30.00
2014-10-02 Initiated Coverage Global Hunter Securities Accumulate $29.00
2014-10-02 Initiated Coverage Seaport Global Securities Accumulate $29.00
2014-08-05 Lower Price Target Wedbush Neutral $29.00 to $27.00
2014-08-04 Lower Price Target FBR & Co. Outperform $32.00 to $29.00
2014-08-04 Lower Price Target DA Davidson Neutral $30.00 to $27.00
2014-07-31 Downgrade Robert W. Baird Outperform to Neutral $31.00 to $23.00
2014-05-06 Reiterated Rating FBR & Co. Outperform $33.00 to $32.00
2014-05-02 Reiterated Rating DA Davidson Neutral $30.00
2014-05-02 Downgrade Stephens Overweight to Equal Weight $36.00 to $27.00
2014-05-02 Downgrade Wedbush Outperform to Neutral $32.00 to $29.00
2014-01-31 Upgrade Robert W. Baird Neutral to Outperform $32.00 to $36.00
2014-01-30 Boost Price Target Brean Capital Buy $32.00 to $34.00
2014-01-17 Upgrade Stephens Equal Weight to Overweight $36.00
2014-01-16 Upgrade KeyBanc Hold to Buy $33.00
2013-12-19 Initiated Coverage Stephens Equal Weight
2013-11-15 Upgrade Brean Capital Hold to Buy $32.00
2013-11-15 Boost Price Target Wedbush Outperform $28.00 to $32.00
2013-11-15 Reiterated Rating Stifel Nicolaus Buy $29.00 to $33.00
2013-11-15 Reiterated Rating DA Davidson Neutral $26.00 to $32.00
2013-08-12 Reiterated FBR Capital Outperform $29 to $27
2013-08-08 Reiterated Oppenheimer Outperform $31 to $27
2013-06-19 Downgrade Brean Capital Buy to Hold
2013-05-28 Reiterated Oppenheimer Outperform $32 to $34
2013-04-10 Reiterated Brean Capital Buy $38 to $34
2013-04-09 Reiterated FBR Capital Outperform $36 to $32
2012-09-11 Reiterated Oppenheimer Outperform $32 to $34
2012-02-03 Upgrade Robert W. Baird Neutral to Outperform $26 to $30
2011-05-23 Initiated Oppenheimer Outperform $30
2011-01-31 Reiterated Wedbush Outperform $25 to $26
2011-01-13 Reiterated Brean Murray Buy $30 to $34
2016-07-07 Reiterated Rating Canaccord Genuity Buy $37.00
2016-05-31 Upgrade Canaccord Genuity Hold to Buy
2016-04-29 Reiterated Rating Canaccord Genuity Hold $30.00
2016-04-29 Downgrade FBR & Co. Outperform to Market Perform $32.00
2016-04-29 Downgrade FBR & Co Outperform to Market Perform $32.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
BATRACK DAN L CHIEF EXECUTIVE OFFICER 0.43%  (275800) TTEK /
BROWNLIE WILLIAM R SENIOR VICE PRESIDENT 0.12%  (78189) TTEK /
PAGENKOPF JAMES R EXECUTIVE VICE PRESIDENT 0.10%  (64543) TTEK /
SHOEMAKER LESLIE L SENIOR VICE PRESIDENT 0.09%  (57523) TTEK /
BURDICK STEVEN M EXECUTIVE VICE PRESIDENT 0.08%  (50672) TTEK /
LEWIS J CHRISTOPHER 0.08%  (48389) TTEK /
SMITH ALBERT E 0.06%  (40278) CDI / CW / TTEK /
CHU RONALD J EXECUTIVE VICE PRESIDENT 0.06%  (37104) TTEK /
LEMMON RICHARD A SENIOR VICE PRESIDENT 0.06%  (36696) TTEK /
CHRISTENSEN CRAIG L SENIOR VICE PRESIDENT 0.06%  (35841) TTEK /
GROSS FRANK C JR EXECUTIVE VICE PRESIDENT 0.05%  (32606) TTEK /
SALIN JANIS B SENIOR VICE PRESIDENT 0.04%  (25046) TTEK /
MCDONALD KEVIN P SENIOR VICE PRESIDENT 0.04%  (22964) TTEK /
THOMPSON J KENNETH 0.03%  (17796) ALK / CDE / PXD / TTEK /
GRANT HUGH M 0.03%  (17621) TTEK /
Ritrievi Kimberly E 0.02%  (13521) SWM / TTEK /
TRULY RICHARD H 0.02%  (13220) TTEK /
Amidon Derek G SVP 0.02%  (12522) TTEK /
CARTER BRIAN N SENIOR VICE PRESIDENT 0.02%  (11043) TTEK /
Auman Jan K SVP 0.02%  (11011) TTEK /
BIEBER MICHAEL A SENIOR VICE PRESIDENT 0.02%  (10796) TTEK / WLDN /
Volpi Kirsten M 0.02%  (10001) TTEK /
HADEN PATRICK C 0.02%  (9680) TTEK /
SMITH DOUGLAS G EXECUTIVE VICE PRESIDENT 0.01%  (7942) TTEK /
Teufele Bernard SVP, CSA Division 0.01%  (7148) TTEK /
Argus Roger R SVP, Gov\'t Svcs. Group 0.01%  (5420) TTEK /
Rynning Mark A SVP 0.01%  (3358) TTEK /