Tutor Perini (NYSE:TPC) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Tutor Perini (NYSE:TPC – Free Report) from a strong-buy rating to a buy rating in a research note published on Sunday morning.

Other equities analysts have also issued research reports about the company. UBS Group lifted their price target on Tutor Perini from $41.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. B. Riley reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

View Our Latest Analysis on Tutor Perini

Tutor Perini Stock Performance

Shares of Tutor Perini stock opened at $47.59 on Friday. The business has a fifty day simple moving average of $44.06 and a two-hundred day simple moving average of $31.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.51 billion, a P/E ratio of -16.52 and a beta of 1.83. Tutor Perini has a 12 month low of $17.90 and a 12 month high of $51.98.

Tutor Perini (NYSE:TPC – Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.47. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. Tutor Perini’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS.

Insider Activity

In related news, Director Raymond R. Oneglia sold 25,000 shares of Tutor Perini stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the sale, the director directly owned 90,470 shares in the company, valued at approximately $3,269,585.80. This trade represents a 21.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the sale, the chairman owned 4,570,985 shares of the company’s stock, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 410,000 shares of company stock valued at $15,891,651 over the last quarter. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently bought and sold shares of TPC. Bryce Point Capital LLC bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $893,000. Levin Capital Strategies L.P. bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $1,076,000. Bank of New York Mellon Corp grew its stake in shares of Tutor Perini by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,415 shares of the construction company’s stock valued at $6,522,000 after purchasing an additional 11,869 shares during the period. Corton Capital Inc. bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $213,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $452,000. 65.01% of the stock is currently owned by institutional investors.

About Tutor Perini

(Get Free Report)

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.

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