Tutor Perini (NYSE:TPC) Upgraded by StockNews.com to “Buy” Rating

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 Thursday.

Other research analysts have also issued reports about the stock. B. Riley boosted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Stock Down 6.3 %

TPC traded down $2.09 during trading hours on Thursday, hitting $31.15. 438,599 shares of the company’s stock were exchanged, compared to its average volume of 448,213. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. Tutor Perini has a 1-year low of $6.86 and a 1-year high of $34.55. The stock’s 50-day moving average is $25.95 and its two-hundred day moving average is $22.64. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -12.03 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.78) by ($0.14). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.43%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned ($0.71) earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Tutor Perini will post -1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. acquired a new position in Tutor Perini during the second quarter valued at approximately $12,362,000. American Century Companies Inc. lifted its stake in Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after purchasing an additional 284,627 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after buying an additional 246,901 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 valued at $52,263,000 after acquiring an additional 198,348 shares during the last quarter. Finally, Algert Global LLC bought a new stake in Tutor Perini during the 2nd quarter worth $4,138,000. Institutional investors own 65.01% of the company’s stock.

About Tutor Perini

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.