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

StockNews.com upgraded shares of Tutor Perini (NYSE:TPC) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

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

Tutor Perini Stock Performance

Tutor Perini stock opened at $24.78 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a 1 year low of $7.83 and a 1 year high of $34.55. The company has a market cap of $1.30 billion, a PE ratio of -9.87 and a beta of 1.54. The company’s 50-day moving average is $26.92 and its two-hundred day moving average is $24.83.

Tutor Perini (NYSE:TPC) last released its 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 analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.71) earnings per share. Equities analysts anticipate that Tutor Perini will post -1.47 earnings per share for the current year.

Insider Activity

In other news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction 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 sale, the director now owns 400,000 shares of the company’s stock, valued at approximately $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently modified their holdings of TPC. Bank of New York Mellon Corp lifted its holdings in shares of Tutor Perini by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 155,931 shares of the construction company’s stock worth $3,396,000 after buying an additional 12,622 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Tutor Perini in the second quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Tutor Perini in the second quarter valued at about $202,000. Rhumbline Advisers grew its position in Tutor Perini by 3.1% in the second quarter. Rhumbline Advisers now owns 84,385 shares of the construction company’s stock valued at $1,838,000 after acquiring an additional 2,534 shares during the last quarter. Finally, Arizona State Retirement System bought a new position in Tutor Perini in the second quarter valued at about $270,000. Institutional investors and hedge funds 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.