Tutor Perini Target of Unusually High Options Trading (NYSE:TPC)

Tutor Perini Corp (NYSE:TPC) saw unusually large options trading activity on Wednesday. Traders acquired 3,400 call options on the stock. This represents an increase of 1,173% compared to the average daily volume of 267 call options.

Shares of TPC stock opened at $6.11 on Thursday. The firm has a market cap of $299.29 million, a price-to-earnings ratio of -0.79 and a beta of 1.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50-day simple moving average is $10.72 and its two-hundred day simple moving average is $13.26. Tutor Perini has a 52 week low of $2.61 and a 52 week high of $20.37.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, February 26th. The construction company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.82). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Tutor Perini had a positive return on equity of 2.19% and a negative net margin of 8.71%. Analysts forecast that Tutor Perini will post 1.8 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Tutor Perini by 319.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 419,751 shares of the construction company’s stock worth $5,398,000 after acquiring an additional 319,671 shares during the last quarter. Norges Bank bought a new stake in Tutor Perini during the 4th quarter valued at $3,264,000. Prudential Financial Inc. purchased a new position in Tutor Perini during the 4th quarter valued at $2,955,000. Engine Capital Management LP purchased a new position in Tutor Perini during the 3rd quarter valued at $3,163,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Tutor Perini during the 4th quarter valued at $2,161,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Several research firms have recently weighed in on TPC. ValuEngine upgraded shares of Tutor Perini from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. DA Davidson reduced their price target on shares of Tutor Perini from $22.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. B. Riley dropped their price objective on shares of Tutor Perini from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Finally, Zacks Investment Research lowered shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.00.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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