Tutor Perini (NYSE:TPC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Tutor Perini (NYSE:TPC) from a hold rating to a buy rating in a research note issued to investors on Monday.

Several other analysts have also recently weighed in on TPC. UBS Group lifted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley raised their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Vertical Research started coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target on the stock.

Tutor Perini Trading Down 6.9 %

Shares of TPC opened at $24.57 on Monday. The firm has a fifty day simple moving average of $27.62 and a two-hundred day simple moving average of $24.47. Tutor Perini has a twelve month low of $7.83 and a twelve month high of $34.55. The stock has a market capitalization of $1.29 billion, a P/E ratio of -9.79 and a beta of 1.49. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.71) EPS. On average, research analysts anticipate that Tutor Perini will post -1.47 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. The trade was a 3.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares of the company’s stock, valued at approximately $11,492,000. This trade represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock valued at $9,686,000 over the last ninety days. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Institutional investors have recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after buying an additional 1,008 shares during the last quarter. Plato Investment Management Ltd bought a new position in Tutor Perini in the 3rd quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Tutor Perini in the 2nd quarter worth $51,000. nVerses Capital LLC bought a new stake in shares of Tutor Perini in the 2nd quarter worth $63,000. Finally, USA Financial Formulas raised its stake in shares of Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.