Tutor Perini (NYSE:TPC) Shares Down 9.1% – Time to Sell?

Shares of Tutor Perini Co. (NYSE:TPC) fell 9.1% during trading on Friday . The stock traded as low as $29.54 and last traded at $30.23. 158,415 shares were traded during trading, a decline of 65% from the average session volume of 446,335 shares. The stock had previously closed at $33.24.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TPC. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group raised their price target on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, B. Riley boosted their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday.

Tutor Perini Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market capitalization of $1.64 billion, a PE ratio of -12.03 and a beta of 1.50. The business’s 50-day moving average is $25.95 and its 200-day moving average is $22.64.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.78) by ($0.14). Tutor Perini had a negative return on equity of 9.43% and a negative net margin of 3.08%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm earned ($0.71) EPS. Tutor Perini’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Tutor Perini Co. will post -1 earnings per share for the current year.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in Tutor Perini by 56.6% in the 1st quarter. BNP Paribas Financial Markets now owns 47,614 shares of the construction company’s stock worth $688,000 after acquiring an additional 17,204 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Tutor Perini by 174.1% in the 1st quarter. Quantbot Technologies LP now owns 25,284 shares of the construction company’s stock worth $366,000 after buying an additional 16,061 shares during the period. Empowered Funds LLC raised its holdings in Tutor Perini by 17.3% during the first quarter. Empowered Funds LLC now owns 218,925 shares of the construction company’s stock valued at $3,166,000 after acquiring an additional 32,325 shares during the period. Vanguard Group Inc. lifted its position in shares of Tutor Perini by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after acquiring an additional 25,246 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Tutor Perini by 152.0% in the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after acquiring an additional 176,398 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.