Brokerages Set Tutor Perini Corporation (NYSE:TPC) Price Target at $60.00

Tutor Perini Corporation (NYSE:TPC) has been given a consensus rating of “Hold” by the five research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $60.00.

Several equities research analysts have issued reports on TPC shares. B. Riley lifted their price objective on Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, October 8th. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, UBS Group lifted their price objective on Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 7th.

Tutor Perini Stock Performance

Tutor Perini stock opened at $67.65 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. Tutor Perini has a one year low of $18.33 and a one year high of $71.07. The stock’s 50 day moving average price is $63.42 and its 200 day moving average price is $48.18. The firm has a market capitalization of $3.57 billion, a PE ratio of -26.85 and a beta of 1.86.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping the consensus estimate of $0.29 by $1.12. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year.

Insider Activity at Tutor Perini

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the sale, the director directly owned 187,274 shares in the company, valued at approximately $12,352,593.04. The trade was a 39.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.94, for a total value of $5,399,371.36. Following the completion of the sale, the chairman owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. This trade represents a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 725,000 shares of company stock worth $44,824,931 over the last 90 days. 17.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors have recently made changes to their positions in TPC. GAMMA Investing LLC increased its holdings in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after acquiring an additional 510 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini in the 1st quarter valued at approximately $54,000. Comerica Bank increased its holdings in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares during the last quarter. CWM LLC increased its holdings in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after acquiring an additional 850 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after purchasing an additional 3,074 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

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.