Tutor Perini Corporation (TPC) Rating Lowered to Hold at ValuEngine
Tutor Perini Corporation (NYSE:TPC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.
Several other analysts also recently weighed in on TPC. B. Riley reiterated a “buy” rating on shares of Tutor Perini Corporation in a research report on Wednesday, November 1st. Canaccord Genuity decreased their price objective on Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday. Zacks Investment Research downgraded Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub downgraded Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $33.17.
Shares of Tutor Perini Corporation (NYSE:TPC) traded down $1.10 on Friday, reaching $24.20. The company had a trading volume of 2,074,886 shares, compared to its average volume of 347,965. The company has a market capitalization of $1,200.00, a P/E ratio of 12.71, a PEG ratio of 1.16 and a beta of 2.39. Tutor Perini Corporation has a 12 month low of $22.60 and a 12 month high of $33.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07.
Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. sell-side analysts anticipate that Tutor Perini Corporation will post 2.22 EPS for the current year.
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In other news, CEO Ronald N. Tutor sold 75,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total value of $652,750.00. Following the transaction, the insider now directly owns 5,923,120 shares of the company’s stock, valued at $154,652,663.20. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $4,566,711 over the last three months. 24.50% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in shares of Tutor Perini Corporation during the third quarter worth approximately $135,000. Victory Capital Management Inc. increased its position in shares of Tutor Perini Corporation by 119.4% during the third quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock worth $195,000 after purchasing an additional 3,743 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Tutor Perini Corporation during the third quarter worth approximately $207,000. BNP Paribas Arbitrage SA increased its position in shares of 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 purchasing an additional 5,725 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Tutor Perini Corporation during the third quarter worth approximately $282,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Tutor Perini Corporation Company Profile
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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