Tutor Perini (NYSE:TPC) Stock Price Up 7% – Time to Buy?

Tutor Perini Co. (NYSE:TPC) traded up 7% during mid-day trading on Monday . The company traded as high as $29.78 and last traded at $29.68. 371,182 shares were traded during trading, a decline of 18% from the average session volume of 450,747 shares. The stock had previously closed at $27.73.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TPC. B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group lifted their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday.

Tutor Perini Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The business’s 50-day simple moving average is $26.70 and its two-hundred day simple moving average is $23.31.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (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 analysts’ expectations of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.71) EPS. On average, sell-side analysts predict that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In other Tutor Perini 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 transaction of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.50% of the stock is owned by insiders.

Institutional Trading of Tutor Perini

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Tutor Perini during the 2nd quarter worth $746,000. Acadian Asset Management LLC boosted its position in Tutor Perini by 152.0% during 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 last quarter. Dark Forest Capital Management LP purchased a new stake in Tutor Perini during the 2nd quarter valued at about $482,000. Empowered Funds LLC raised its holdings in Tutor Perini by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock valued at $7,293,000 after acquiring an additional 32,676 shares during the last quarter. Finally, Caxton Associates LP raised its holdings in Tutor Perini by 254.0% in the 2nd quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock valued at $1,687,000 after acquiring an additional 55,583 shares during the last quarter. 65.01% of the stock is currently 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.