Tutor Perini (NYSE:TPC) had its price target cut by stock analysts at B. Riley from $26.00 to $24.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the construction company’s stock. B. Riley’s price objective points to a potential upside of 36.67% from the stock’s current price.
A number of other research analysts have also recently commented on TPC. Zacks Investment Research cut Tutor Perini from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. ValuEngine upgraded Tutor Perini from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, MKM Partners set a $28.00 price objective on Tutor Perini and gave the stock a “buy” rating in a research note on Friday, September 28th. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. Tutor Perini has an average rating of “Buy” and a consensus price target of $28.50.
Shares of Tutor Perini stock opened at $17.56 on Thursday. Tutor Perini has a twelve month low of $14.92 and a twelve month high of $28.30. The firm has a market capitalization of $937.81 million, a P/E ratio of 12.76, a PEG ratio of 0.88 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.97 and a current ratio of 1.97.
In other news, major shareholder N. Tutor Separate Prope Ronald sold 17,574 shares of Tutor Perini stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $20.08, for a total transaction of $352,885.92. Following the sale, the insider now directly owns 5,626,601 shares of the company’s stock, valued at $112,982,148.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald N. Tutor sold 27,375 shares of Tutor Perini stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $20.24, for a total value of $554,070.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,574 shares of company stock worth $2,367,300. 24.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TPC. Frontier Capital Management Co. LLC increased its position in shares of Tutor Perini by 31.8% during the second quarter. Frontier Capital Management Co. LLC now owns 4,030,807 shares of the construction company’s stock worth $74,368,000 after acquiring an additional 971,423 shares during the last quarter. Donald Smith & CO. Inc. purchased a new stake in shares of Tutor Perini during the third quarter worth about $11,292,000. Russell Investments Group Ltd. increased its position in shares of Tutor Perini by 15.3% during the third quarter. Russell Investments Group Ltd. now owns 1,504,798 shares of the construction company’s stock worth $28,289,000 after acquiring an additional 199,814 shares during the last quarter. Boston Partners increased its position in shares of Tutor Perini by 6.9% during the second quarter. Boston Partners now owns 2,811,270 shares of the construction company’s stock worth $51,868,000 after acquiring an additional 182,040 shares during the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Tutor Perini during the second quarter worth about $2,465,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.
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.
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