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

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

A number of other research analysts also recently weighed in on TPC. UBS Group increased their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. B. Riley upped their price objective on 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 Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price for the company.

Tutor Perini Stock Up 1.0 %

TPC stock traded up $0.27 during trading on Monday, reaching $26.47. The stock had a trading volume of 361,325 shares, compared to its average volume of 444,646. Tutor Perini has a one year low of $7.83 and a one year high of $34.55. The company’s 50 day moving average is $27.66 and its two-hundred day moving average is $24.44. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -10.55 and a beta of 1.49. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

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 the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.71) EPS. Equities research analysts forecast that Tutor Perini will post -1.47 EPS for the current year.

Insider Transactions at Tutor Perini

In related news, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the sale, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares of the company’s stock, valued at $11,492,000. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock worth $9,686,000 over the last quarter. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of Tutor Perini

Hedge funds and other institutional investors have recently bought and sold shares of the company. USA Financial Formulas grew its position in shares of Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after purchasing an additional 566 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Tutor Perini by 3.5% during 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 in the last quarter. CWM LLC grew its position in Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after buying an additional 908 shares in the last quarter. Plato Investment Management Ltd bought a new position in Tutor Perini in the 3rd quarter worth about $52,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini in the 2nd quarter valued at about $51,000. 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.