Tetra Technologies Inc. (NYSE:TTI) received a $10.00 price objective from investment analysts at Morgan Stanley in a note issued to investors on Wednesday. The firm presently has a a “buy” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 83.15% from the company’s current price.
Several other equities analysts have also weighed in on TTI. Zacks Investment Research lowered shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Simmons restated an “overweight” rating and set a $7.60 price objective (up previously from $7.35) on shares of Tetra Technologies in a research report on Wednesday, August 10th. JPMorgan Chase & Co. set a $8.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG set a $8.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Wunderlich raised their price objective on shares of Tetra Technologies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Tetra Technologies has a consensus rating of “Buy” and a consensus target price of $8.26.
Shares of Tetra Technologies (NYSE:TTI) traded up 7.51% during trading on Wednesday, reaching $5.87. 813,234 shares of the company traded hands. The firm’s market capitalization is $544.18 million. The firm has a 50-day moving average price of $6.07 and a 200-day moving average price of $6.15. Tetra Technologies has a 12 month low of $4.62 and a 12 month high of $9.44.
Tetra Technologies (NYSE:TTI) last released its earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $175.66 million for the quarter, compared to analysts’ expectations of $188.42 million. Tetra Technologies had a negative net margin of 27.71% and a negative return on equity of 3.33%. Tetra Technologies’s quarterly revenue was down 44.5% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. Equities research analysts anticipate that Tetra Technologies will post ($0.48) EPS for the current year.
In other news, VP Keith L. Schilling sold 24,341 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $6.37, for a total value of $155,052.17. Following the completion of the sale, the vice president now directly owns 111,161 shares of the company’s stock, valued at $708,095.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.45% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. raised its stake in Tetra Technologies by 1,287.1% in the second quarter. Point72 Asset Management L.P. now owns 4,785,514 shares of the company’s stock worth $30,484,000 after buying an additional 4,440,514 shares during the period. Boston Partners raised its stake in Tetra Technologies by 75.7% in the second quarter. Boston Partners now owns 2,837,497 shares of the company’s stock worth $18,075,000 after buying an additional 1,222,597 shares during the period. Vanguard Group Inc. raised its stake in Tetra Technologies by 16.8% in the second quarter. Vanguard Group Inc. now owns 8,394,848 shares of the company’s stock worth $53,476,000 after buying an additional 1,205,275 shares during the period. FMR LLC raised its stake in Tetra Technologies by 56.9% in the second quarter. FMR LLC now owns 2,701,785 shares of the company’s stock worth $17,210,000 after buying an additional 980,000 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in Tetra Technologies during the second quarter worth about $4,731,000. 89.92% of the stock is owned by institutional investors and hedge funds.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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