Tutor Perini (TPC) Raised to “Buy” at Zacks Investment Research

Tutor Perini (NYSE:TPC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage currently has a $30.00 price objective on the construction company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.91% from the stock’s previous close.

According to Zacks, “Tutor Perini Corporation provides diversified general contracting, construction management and design-build services to private clients and public agencies worldwide. The company operates in four segments: Civil, Building, Specialty Contractors, and Management Services. The Civil segment engages in public works construction activities and the repair, replacement, and reconstruction of infrastructure. The Building segment offers services in specialized building markets, including hospitality and gaming, transportation, healthcare, municipal offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high technology. The Specialty Contractors segment provides plumbing, HVAC, electrical, mechanical, and concrete services for the industrial, commercial, hospitality and gaming, and transportation markets. The Management Services segment offers construction and design-build services to the U.S. military and government agencies, and multi-national corporations. “

Several other research firms also recently weighed in on TPC. ValuEngine raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Canaccord Genuity lowered their price target on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Seaport Global Securities downgraded shares of Tutor Perini from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $40.00 to $31.00 in a research note on Wednesday, October 11th. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Wednesday, November 1st. Finally, lowered their price objective on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $33.50.

Shares of Tutor Perini (NYSE:TPC) traded up $0.35 during trading hours on Friday, reaching $27.05. 350,990 shares of the company traded hands, compared to its average volume of 463,016. Tutor Perini has a one year low of $22.60 and a one year high of $33.00. The stock has a market capitalization of $1,350.00, a price-to-earnings ratio of 14.02, a PEG ratio of 1.00 and a beta of 2.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.22). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 earnings per share. equities analysts predict that Tutor Perini will post 1.83 earnings per share for the current fiscal year.

In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total value of $640,000.00. Following the sale, the insider now owns 5,798,120 shares in the company, valued at $148,431,872. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dale Ann Reiss sold 4,829 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the completion of the sale, the director now owns 20,625 shares in the company, valued at approximately $562,650. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,829 shares of company stock worth $1,400,985. Corporate insiders own 24.50% of the company’s stock.

Several large investors have recently bought and sold shares of TPC. Boston Partners grew its holdings in shares of Tutor Perini by 33.2% during the third quarter. Boston Partners now owns 2,288,432 shares of the construction company’s stock valued at $64,992,000 after buying an additional 570,799 shares during the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Tutor Perini by 27.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,405,525 shares of the construction company’s stock valued at $60,980,000 after buying an additional 516,367 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Tutor Perini by 4,205.8% during the second quarter. Principal Financial Group Inc. now owns 384,639 shares of the construction company’s stock valued at $11,058,000 after buying an additional 375,706 shares during the last quarter. Northern Trust Corp lifted its position in Tutor Perini by 59.9% during the second quarter. Northern Trust Corp now owns 764,431 shares of the construction company’s stock valued at $21,978,000 after purchasing an additional 286,310 shares during the period. Finally, Formula Growth Ltd. bought a new position in Tutor Perini during the third quarter valued at approximately $7,526,000. Hedge funds and other institutional investors own 81.78% of the company’s stock.

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About Tutor Perini

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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