StockNews.com Lowers Tutor Perini (NYSE:TPC) to Hold

Tutor Perini (NYSE:TPC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Separately, UBS Group lifted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday.

Tutor Perini Stock Down 1.6 %

Shares of NYSE TPC opened at $25.97 on Thursday. The stock has a market cap of $1.36 billion, a P/E ratio of -12.73 and a beta of 1.50. The business’s fifty day simple moving average is $25.02 and its 200-day simple moving average is $21.78. Tutor Perini has a 12-month low of $6.86 and a 12-month high of $30.99. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. Tutor Perini’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.72) EPS. As a group, equities analysts predict that Tutor Perini will post 1.12 EPS for the current fiscal year.

Institutional Trading of Tutor Perini

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its stake in Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after buying an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini in the 2nd quarter valued at $51,000. nVerses Capital LLC acquired a new stake in Tutor Perini during the 2nd quarter worth $63,000. USA Financial Formulas grew its position in Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the last quarter. Finally, Quest Partners LLC increased its stake in Tutor Perini by 537.2% in the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after purchasing an additional 3,497 shares during the period. 65.01% of the stock is currently 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.