UBS Group Increases Tutor Perini (NYSE:TPC) Price Target to $39.00

Tutor Perini (NYSE:TPC) had its price target upped by equities research analysts at UBS Group from $27.00 to $39.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. UBS Group’s target price indicates a potential upside of 47.84% from the stock’s previous close.

Tutor Perini Stock Performance

NYSE TPC opened at $26.38 on Wednesday. The firm has a market cap of $1.38 billion, a P/E ratio of -12.93 and a beta of 1.50. Tutor Perini has a 52-week low of $6.86 and a 52-week high of $30.99. The business’s 50-day moving average price is $24.92 and its 200 day moving average price is $21.71. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50.

Tutor Perini (NYSE:TPC) last released its earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the firm posted ($0.72) EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts expect that Tutor Perini will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPC. CWM LLC boosted its holdings in Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini in the second quarter valued at approximately $51,000. nVerses Capital LLC purchased a new stake in shares of Tutor Perini in the second quarter valued at approximately $63,000. EntryPoint Capital LLC acquired a new position in Tutor Perini during the first quarter worth $77,000. Finally, 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 valued at $90,000 after acquiring an additional 3,497 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.