Tutor Perini (NYSE:TPC) Stock Price Down 25.7% – Here’s Why

Tutor Perini Co. (NYSE:TPC)’s stock price dropped 25.7% during mid-day trading on Monday . The stock traded as low as $24.81 and last traded at $19.75. Approximately 85,647 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 493,409 shares. The stock had previously closed at $26.58.

Analysts Set New Price Targets

TPC has been the subject of a number of recent research reports. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Vertical Research started coverage on Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price on the stock.

Tutor Perini Stock Performance

The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $24.23 and its 200 day moving average price is $25.51. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.68 and a beta of 1.73.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned ($0.91) earnings per share.

Hedge Funds Weigh In On Tutor Perini

Several institutional investors have recently bought and sold shares of the company. Plato Investment Management Ltd acquired a new stake in shares of Tutor Perini during the third quarter worth about $52,000. FMR LLC boosted its position in Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after buying an additional 2,399 shares during the period. State of Wyoming boosted its position in Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock valued at $150,000 after buying an additional 1,764 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Tutor Perini in the third quarter worth $201,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Tutor Perini during the third quarter worth $234,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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.