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

Tutor Perini (NYSE:TPC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

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

Tutor Perini Trading Up 2.6 %

Shares of NYSE TPC traded up $0.62 during midday trading on Friday, hitting $24.78. The stock had a trading volume of 257,459 shares, compared to its average volume of 319,680. The company has a fifty day moving average price of $26.92 and a 200 day moving average price of $24.79. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -9.87 and a beta of 1.49. Tutor Perini has a 1-year low of $7.83 and a 1-year high of $34.55. 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 (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 ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned ($0.71) earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Tutor Perini will post -1.47 earnings per share for the current year.

Insider Transactions at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of the 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 directly owns 2,362,267 shares in the company, valued at $72,710,578.26. This represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction 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. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by insiders.

Institutional Trading of Tutor Perini

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini during the second quarter worth $51,000. Plato Investment Management Ltd bought a new stake in shares of Tutor Perini during the 3rd quarter valued at about $52,000. CWM LLC raised its stake in Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after acquiring an additional 908 shares during the period. Quest Partners LLC lifted its holdings in Tutor Perini by 537.2% in the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock worth $90,000 after acquiring an additional 3,497 shares during the last quarter. Finally, USA Financial Formulas boosted its stake in Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after acquiring an additional 566 shares during the period. 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.