Tutor Perini Corporation (TPC) Stock Rating Lowered by Seaport Global Securities
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.
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.
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