Maxim Group analyst Tate Sullivan has maintained their neutral stance on TTEK stock, giving a Hold rating on July 31.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tate Sullivan has given his Hold rating due to a combination of factors related to Tetra Tech’s financial performance and future outlook. The company’s recent quarterly results surpassed expectations, largely driven by contributions from a recent acquisition and ongoing disaster response efforts. However, the guidance for the upcoming quarter indicates a decline in net revenue compared to the previous year, falling short of consensus expectations.
Furthermore, while Tetra Tech’s earnings per share for the full fiscal year are projected to grow slightly, the overall revenue growth is expected to remain flat in the following year. This stagnation is primarily attributed to a reduction in U.S. federal government contracts, which impacts the company’s growth prospects under the current administration. Consequently, despite some positive developments, the outlook for sustained growth remains uncertain, justifying the Hold rating.
In another report released on July 31, Robert W. Baird also maintained a Hold rating on the stock with a $40.00 price target.