Tutor Perini (TPC) Upgraded to Buy by Zacks Investment Research

Tutor Perini (NYSE:TPC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $24.00 target price on the construction company’s stock. Zacks Investment Research‘s price target points to a potential upside of 6.67% from the company’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. “

A number of other brokerages have also weighed in on TPC. ValuEngine lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 10th. B. Riley reduced their price objective on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 14th. reduced their price objective on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Finally, Canaccord Genuity reduced their price objective on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Tutor Perini has an average rating of “Hold” and an average target price of $31.40.

Shares of Tutor Perini (NYSE:TPC) traded up $0.25 during mid-day trading on Wednesday, reaching $22.50. 189,918 shares of the company’s stock traded hands, compared to its average volume of 492,500. 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 has a 52 week low of $21.15 and a 52 week high of $32.70. The stock has a market cap of $1,075.27, a PE ratio of 11.61, a PEG ratio of 0.81 and a beta of 2.13.

In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total transaction of $640,000.00. Following 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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dale Ann Reiss sold 4,829 shares of Tutor Perini stock in a transaction on Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the sale, the director now owns 20,625 shares in the company, valued at $562,650. The disclosure for this sale can be found here. Insiders sold a total of 54,829 shares of company stock worth $1,400,985 over the last 90 days. Company insiders own 24.50% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Guggenheim Capital LLC acquired a new stake in Tutor Perini during the 4th quarter worth $323,000. Bronson Point Management LLC increased its stake in Tutor Perini by 172.7% in the fourth quarter. Bronson Point Management LLC now owns 120,000 shares of the construction company’s stock valued at $3,042,000 after purchasing an additional 76,000 shares during the period. Anchor Bolt Capital LP increased its stake in Tutor Perini by 1.8% in the fourth quarter. Anchor Bolt Capital LP now owns 245,729 shares of the construction company’s stock valued at $6,229,000 after purchasing an additional 4,227 shares during the period. Renaissance Technologies LLC increased its stake in Tutor Perini by 8.8% in the fourth quarter. Renaissance Technologies LLC now owns 108,800 shares of the construction company’s stock valued at $2,758,000 after purchasing an additional 8,800 shares during the period. Finally, Towle & Co. increased its stake in Tutor Perini by 2.3% in the fourth quarter. Towle & Co. now owns 934,900 shares of the construction company’s stock valued at $23,700,000 after purchasing an additional 21,290 shares during the period. Hedge funds and other institutional investors own 84.85% 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.

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Analyst Recommendations for Tutor Perini (NYSE:TPC)

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