Analysts Set Tutor Perini Corp (TPC) PT at $31.17

Tutor Perini Corp (NYSE:TPC) has been given a consensus recommendation of “Buy” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.17.

TPC has been the subject of a number of research reports. ValuEngine lowered Tutor Perini from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. Zacks Investment Research upgraded Tutor Perini from a “sell” rating to a “hold” rating in a report on Friday, August 10th. B. Riley lowered their price target on Tutor Perini from $28.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 8th. Finally, MKM Partners set a $28.00 price target on Tutor Perini and gave the company a “buy” rating in a report on Tuesday, August 28th.

In other news, major shareholder N. Tutor Separate Prope Ronald sold 17,574 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $20.08, for a total transaction of $352,885.92. Following the completion of the sale, the insider now owns 5,626,601 shares in the company, valued at approximately $112,982,148.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 32,574 shares of the stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $20.10, for a total value of $654,737.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,574 shares of company stock valued at $2,367,300. 24.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of TPC. Frontier Capital Management Co. LLC lifted its holdings in shares of Tutor Perini by 31.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 4,030,807 shares of the construction company’s stock valued at $74,368,000 after purchasing an additional 971,423 shares during the last quarter. Millennium Management LLC increased its position in shares of Tutor Perini by 2,038.4% in the 1st quarter. Millennium Management LLC now owns 627,230 shares of the construction company’s stock valued at $13,830,000 after acquiring an additional 597,898 shares during the period. Russell Investments Group Ltd. increased its position in shares of Tutor Perini by 15.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,504,798 shares of the construction company’s stock valued at $28,289,000 after acquiring an additional 199,814 shares during the period. Boston Partners increased its position in shares of Tutor Perini by 6.9% in the 2nd quarter. Boston Partners now owns 2,811,270 shares of the construction company’s stock valued at $51,868,000 after acquiring an additional 182,040 shares during the period. Finally, Penn Capital Management Co. Inc. acquired a new position in shares of Tutor Perini in the 2nd quarter valued at $2,465,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Shares of NYSE TPC opened at $18.75 on Monday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $910.30 million, a P/E ratio of 13.02, a PEG ratio of 0.85 and a beta of 2.08. Tutor Perini has a 52-week low of $15.06 and a 52-week high of $28.30.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 7th. The construction company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.32). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Tutor Perini had a net margin of 2.58% and a return on equity of 4.55%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Analysts anticipate that Tutor Perini will post 2.13 EPS for the current year.

Tutor Perini Company Profile

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.

Further Reading: Cost of Debt

Analyst Recommendations for Tutor Perini (NYSE:TPC)

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