Tutor Perini (NYSE:TPC) Raised to Buy at StockNews.com

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

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

Tutor Perini Stock Down 0.3 %

Shares of TPC opened at $26.40 on Monday. Tutor Perini has a 1 year low of $7.83 and a 1 year high of $34.55. 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 stock has a 50 day simple moving average of $27.65 and a two-hundred day simple moving average of $24.47. The firm has a market cap of $1.38 billion, a P/E ratio of -10.52 and a beta of 1.49.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company posted ($0.71) EPS. On average, analysts forecast that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction 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. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at $7,170,000. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 198,348 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tutor Perini by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after acquiring an additional 38,458 shares in the last quarter. State Street Corp boosted its holdings in Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after acquiring an additional 19,518 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock valued at $21,277,000 after acquiring an additional 441,858 shares in the last quarter. Finally, American Century Companies Inc. raised its position 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 purchasing an additional 284,627 shares during the last quarter. 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.