Tutor Perini Corporation (NYSE:TPC) was downgraded by investment analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. They currently have a $31.00 price objective on the construction company’s stock. Seaport Global Securities’ target price indicates a potential upside of 6.53% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. BidaskClub cut Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. KeyCorp reissued a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Tutor Perini Corporation in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.00.

Shares of Tutor Perini Corporation (NYSE TPC) traded down 3.351% during mid-day trading on Wednesday, hitting $28.125. The company had a trading volume of 75,322 shares. The firm has a 50-day moving average price of $26.89 and a 200 day moving average price of $27.83. Tutor Perini Corporation has a 12 month low of $18.05 and a 12 month high of $33.00. The firm has a market capitalization of $1.40 billion, a P/E ratio of 13.827 and a beta of 2.45.

Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. Tutor Perini Corporation’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, equities research analysts forecast that Tutor Perini Corporation will post $2.26 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Tutor Perini Corporation (TPC) Stock Rating Lowered by Seaport Global Securities” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/10/11/tutor-perini-corporation-tpc-stock-rating-lowered-by-seaport-global-securities.html.

In other Tutor Perini Corporation news, CEO Ronald N. Tutor sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total transaction of $1,956,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 3,617 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $26.02, for a total value of $94,114.34. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock valued at $4,566,711 in the last three months. 24.50% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. purchased a new position in Tutor Perini Corporation during the first quarter worth $101,000. Envestnet Asset Management Inc. increased its position in Tutor Perini Corporation by 8.1% during the first quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock worth $144,000 after buying an additional 340 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Tutor Perini Corporation during the first quarter worth $218,000. BNP Paribas Arbitrage SA increased its position in Tutor Perini Corporation by 239.8% during the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after buying an additional 5,725 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new position in Tutor Perini Corporation during the second quarter worth $291,000. 81.11% of the stock is owned by institutional investors.

About Tutor Perini Corporation

Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.

Analyst Recommendations for Tutor Perini Corporation (NYSE:TPC)

Receive News & Ratings for Tutor Perini Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini Corporation and related companies with MarketBeat.com's FREE daily email newsletter.