Tutor Perini (TPC) Downgraded by ValuEngine

Tutor Perini (NYSE:TPC) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Saturday, January 20th. decreased their price objective on Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. B. Riley decreased their price objective on Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 14th. Canaccord Genuity decreased their price objective on Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. Finally, Seaport Global Securities downgraded Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $31.00 in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.60.

Tutor Perini (TPC) traded down $0.75 during midday trading on Friday, reaching $23.95. The company had a trading volume of 372,494 shares, compared to its average volume of 378,673. The firm has a market capitalization of $1,192.26, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.90 and a beta of 2.13. Tutor Perini has a 1-year low of $22.60 and a 1-year high of $32.70. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

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

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

A number of institutional investors have recently modified their holdings of TPC. Teachers Advisors LLC grew its holdings in Tutor Perini by 0.8% during the 2nd quarter. Teachers Advisors LLC now owns 67,275 shares of the construction company’s stock worth $1,934,000 after acquiring an additional 511 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Tutor Perini by 8.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after purchasing an additional 11,708 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Tutor Perini by 86.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after purchasing an additional 75,407 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Tutor Perini by 15.8% during the 2nd quarter. Nationwide Fund Advisors now owns 125,393 shares of the construction company’s stock worth $3,605,000 after purchasing an additional 17,091 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Tutor Perini by 4.6% during the 2nd quarter. New York State Common Retirement Fund now owns 300,109 shares of the construction company’s stock worth $8,628,000 after purchasing an additional 13,195 shares in the last quarter. Hedge funds and other institutional investors own 82.93% of the company’s stock.

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Tutor Perini 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tutor Perini (NYSE:TPC)

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