Tutor Perini (NYSE:TPC) Upgraded at StockNews.com

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

A number of other brokerages have also issued reports on TPC. Vertical Research assumed coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price on the stock. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, B. Riley boosted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Tutor Perini Price Performance

Shares of Tutor Perini stock opened at $24.78 on Friday. The firm has a fifty day simple moving average of $26.92 and a 200-day simple moving average of $24.83. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a 1-year low of $7.83 and a 1-year high of $34.55. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.87 and a beta of 1.54.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted ($0.71) earnings per share. Tutor Perini’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Tutor Perini will post -1.47 earnings per share for the current year.

Insider Activity

In other news, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction on 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 sale, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald N. Tutor sold 50,000 shares of the company’s 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 transaction, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 325,000 shares of company stock worth $9,686,000. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after buying an additional 52,319 shares in the last quarter. Foundry Partners LLC lifted its position in Tutor Perini by 18.2% during the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock worth $5,891,000 after buying an additional 33,440 shares in the last quarter. XTX Topco Ltd acquired a new position in Tutor Perini during the 2nd quarter worth about $746,000. Empowered Funds LLC lifted its position in Tutor Perini by 13.9% during the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after buying an additional 32,676 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock valued at $27,795,000 after purchasing an additional 38,458 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

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.