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

Tutor Perini (NYSE:TPC) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other research analysts have also commented on the company. UBS Group raised their price target on 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 company a “buy” rating in a research note on Thursday, November 7th. Finally, Vertical Research assumed 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 Stock Performance

Tutor Perini stock traded up $0.62 during midday trading on Friday, reaching $24.78. 257,459 shares of the stock traded hands, compared to its average volume of 319,680. Tutor Perini has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -9.87 and a beta of 1.49. The firm has a fifty day moving average price of $26.92 and a two-hundred day moving average price of $24.79.

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

Insider Activity

In related news, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the director now owns 400,000 shares in the company, 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 sold a total of 325,000 shares of company stock worth $9,686,000 over the last 90 days. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently modified their holdings of TPC. USA Financial Formulas increased its stake in Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Tutor Perini by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock worth $368,000 after buying an additional 571 shares during the period. CWM LLC increased its position in shares of Tutor Perini by 53.0% in the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after acquiring an additional 908 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Tutor Perini during the third quarter valued at approximately $52,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini in the 2nd quarter valued at approximately $51,000. 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.