Tutor Perini (NYSE:TPC) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research note released on Friday.

Several other equities analysts have also recently issued reports on the stock. B. Riley boosted their target price 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. UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Stock Performance

NYSE TPC opened at $29.71 on Friday. The firm has a market capitalization of $1.56 billion, a P/E ratio of -11.84 and a beta of 1.50. The stock has a 50-day simple moving average of $26.85 and a two-hundred day simple moving average of $23.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini has a fifty-two week low of $7.83 and a fifty-two week high of $34.55.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned ($0.71) earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Tutor Perini will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.50% of the stock is owned by corporate insiders.

Institutional Trading of Tutor Perini

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Tutor Perini by 56.6% in the 1st quarter. BNP Paribas Financial Markets now owns 47,614 shares of the construction company’s stock worth $688,000 after buying an additional 17,204 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after purchasing an additional 25,246 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Tutor Perini by 152.0% during the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after purchasing an additional 176,398 shares in the last quarter. Donald Smith & CO. Inc. raised its stake in Tutor Perini by 3.9% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock valued at $58,602,000 after purchasing an additional 152,779 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in Tutor Perini in the 1st quarter valued at $224,000. Hedge funds and other 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.