Tutor Perini (NYSE:TPC) Earns Buy Rating from Analysts at Vertical Research

Vertical Research began coverage on shares of Tutor Perini (NYSE:TPC) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $38.00 price objective on the construction company’s stock.

A number of other analysts have also issued reports on the company. B. Riley increased their target price on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group raised their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Trading Down 4.1 %

Shares of NYSE TPC opened at $26.07 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a 12 month low of $7.83 and a 12 month high of $34.55. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -10.39 and a beta of 1.49. The business has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $24.34.

Tutor Perini (NYSE:TPC) last announced 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). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.71) earnings per share. Sell-side analysts predict that Tutor Perini will post -1.47 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ronald N. Tutor sold 50,000 shares of the firm’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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the director now directly owns 400,000 shares of the company’s stock, valued at $11,492,000. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 325,000 shares of company stock worth $9,686,000. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. USA Financial Formulas lifted its holdings in shares of Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after buying an additional 566 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Tutor Perini by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock valued at $368,000 after purchasing an additional 571 shares during the last quarter. CWM LLC boosted its holdings in Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after purchasing an additional 908 shares during the period. Plato Investment Management Ltd acquired a new stake in Tutor Perini in the 3rd quarter worth $52,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Tutor Perini during the second quarter valued at about $51,000. Institutional investors and hedge funds 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.