Tutor Perini (NYSE:TPC) Downgraded by StockNews.com

StockNews.com cut shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research note published on Thursday.

Separately, UBS Group lifted their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday.

Tutor Perini Price Performance

NYSE TPC opened at $25.97 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50. Tutor Perini has a 1 year low of $6.86 and a 1 year high of $30.99. The company has a fifty day simple moving average of $25.02 and a 200 day simple moving average of $21.83. The company has a market cap of $1.36 billion, a P/E ratio of -12.73 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted ($0.72) EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that Tutor Perini will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. boosted its holdings in Tutor Perini by 3.9% during the first quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock valued at $58,602,000 after purchasing an additional 152,779 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after acquiring an additional 198,348 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Tutor Perini by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after acquiring an additional 25,246 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after acquiring an additional 284,627 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Tutor Perini in the 2nd quarter worth approximately $12,362,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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.