Tutor Perini (NYSE:TPC) Rating Increased 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 released on Monday.

Several other equities analysts also recently weighed in on the stock. 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. B. Riley boosted their price objective 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 started coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company.

Tutor Perini Stock Performance

NYSE TPC opened at $26.47 on Monday. Tutor Perini has a 52-week low of $7.83 and a 52-week high of $34.55. The company has a 50-day simple moving average of $27.66 and a 200 day simple moving average of $24.44. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $1.39 billion, a PE ratio of -10.55 and a beta of 1.49.

Tutor Perini (NYSE:TPC) last posted 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 company 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.71) EPS. On average, research analysts predict that Tutor Perini will post -1.47 EPS for the current year.

Insider Activity at Tutor Perini

In other news, Director Raymond R. Oneglia sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 250,000 shares in the company, valued at approximately $7,170,000. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 transaction of $3,840,000.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 325,000 shares of company stock valued at $9,686,000. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TPC. CWM LLC increased its stake in shares of Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after buying an additional 1,008 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Tutor Perini in the second quarter worth $12,362,000. Bank of New York Mellon Corp increased its stake in shares of Tutor Perini by 8.8% in 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 during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Tutor Perini in the second quarter worth $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Tutor Perini in the second quarter worth $202,000. 65.01% of the stock is 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.