Tutor Perini (NYSE:TPC) Upgraded by StockNews.com to “Buy” Rating

Tutor Perini (NYSE:TPC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

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

Tutor Perini Stock Performance

Shares of NYSE TPC opened at $24.78 on Friday. Tutor Perini has a 12 month low of $7.83 and a 12 month 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. The company has a market cap of $1.30 billion, a P/E ratio of -9.87 and a beta of 1.54. The business’s 50 day moving average is $26.92 and its two-hundred day moving average is $24.81.

Tutor Perini (NYSE:TPC) last issued 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). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned ($0.71) earnings per share. On average, equities analysts expect that Tutor Perini will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares of the company’s stock, valued at $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the transaction, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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. Geode Capital Management LLC grew its stake in shares of 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 worth $27,795,000 after acquiring an additional 38,458 shares in the last quarter. State Street Corp lifted its position in shares of Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after purchasing an additional 19,518 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after purchasing an additional 441,858 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after buying an additional 284,627 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.