TETRA TECH INC (TTEK) May 2024 Earnings Report
Tetra Tech, Inc.: Investment Report
Overview
Tetra Tech, Inc. is a leading provider of consulting and engineering services with a strong track record of delivering high-end solutions to its clients. With a market capitalization of $11.78 billion and a strong presence in the industrials sector, Tetra Tech is an attractive investment opportunity. This report provides an in-depth analysis of the company's financial performance, growth prospects, and recent news updates, making it an essential read for investors seeking to capitalize on this opportunity.
Core Metrics
- Current price: $220.22
- 52-week high: $220.37
- 52-week low: $132.29
- Market Cap: $11.78 billion
- P/E Ratio: 44.67
- Earnings per Share: $4.93
- 50-day average: $193.41
- 200-day average: $170.49
- Analyst Recommendations: Buy (6 analysts)
Financial Performance
Tetra Tech's financial performance has been impressive, with a revenue growth rate of 8.6%. The company's gross margins and EBITDA margins stand at 19.43% and 13.09%, respectively. Tetra Tech's strong financials are supported by its robust cash position, with total cash and free cash flow of $210.29 million and $333.40 million, respectively. The company's operating cash flow and EBITDA stand at $367.52 million and $538.43 million, respectively.
Growth Prospects
Tetra Tech's growth prospects look promising, driven by its strategic acquisitions, including the recent purchase of Convergence Controls & Engineering. The company's expansion into digital water and energy practices is expected to drive growth in the coming quarters. Additionally, Tetra Tech's strong presence in the renewable energy and environmental management sectors positions it well to capitalize on the growing demand for sustainable solutions.
News and Updates
Recent news updates highlight Tetra Tech's growth momentum, with the company's acquisition of Convergence Controls & Engineering expanding its digital water and energy practices. Analysts have also been bullish on the stock, with six analysts recommend a "buy" rating. Tetra Tech's strong performance has been recognized by various analysts, with Zacks.com highlighting the company's growth prospects.
Upgrades and Downgrades
Keybanc recently reiterated its "overweight" rating on Tetra Tech, citing the company's strong growth prospects. Baird maintained its "neutral" rating on the stock, while RBC Capital reiterated its "outperform" rating. Maxim Group also maintained its "buy" rating on Tetra Tech.
Summary
In conclusion, Tetra Tech, Inc. presents an attractive investment opportunity, driven by its strong financial performance, growth prospects, and recent news updates. With a robust cash position, strategic acquisitions, and a strong presence in growing sectors, Tetra Tech is poised for continued growth in the coming quarters. We recommend a "buy" rating on the stock, in line with the analyst consensus.