Tutor Perini (NYSE:TPC) Price Target Raised to $40.00 at B. Riley

Tutor Perini (NYSE:TPC) had its price target lifted by stock analysts at B. Riley from $38.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s price objective suggests a potential upside of 19.94% from the company’s current price.

A number of other brokerages have also issued reports on TPC. UBS Group increased their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Thursday, October 24th.

Tutor Perini Stock Performance

Shares of Tutor Perini stock traded up $3.07 on Thursday, reaching $33.35. 713,671 shares of the company were exchanged, compared to its average volume of 447,292. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65. The company’s 50-day moving average is $25.75 and its two-hundred day moving average is $22.57. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -25.84 and a beta of 1.50. Tutor Perini has a 1-year low of $6.86 and a 1-year high of $34.55.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.78) by ($0.14). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.71) earnings per share. As a group, research analysts expect that Tutor Perini will post -1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. boosted its stake in Tutor Perini by 3.9% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Tutor Perini by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after purchasing an additional 198,348 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tutor Perini by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after purchasing an additional 284,627 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Tutor Perini in the second quarter valued at $12,362,000. 65.01% of the stock is owned by institutional investors.

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.