Tutor Perini (NYSE:TPC) has been given a $27.00 price target by equities research analysts at MKM Partners in a research report issued on Thursday. The firm currently has a “buy” rating on the construction company’s stock. MKM Partners’ price objective suggests a potential upside of 53.76% from the company’s current price.
TPC has been the subject of several other reports. Zacks Investment Research upgraded Tutor Perini from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. UBS Group set a $24.00 price objective on Tutor Perini and gave the stock a “buy” rating in a research note on Thursday. B. Riley reduced their price objective on Tutor Perini from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, ValuEngine upgraded Tutor Perini from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $28.50.
Tutor Perini stock opened at $17.56 on Thursday. The company has a market cap of $937.81 million, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.88 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.97 and a quick ratio of 1.97. Tutor Perini has a 52 week low of $14.92 and a 52 week high of $28.30.
Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 7th. The construction company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.32). The business had revenue of $1.12 billion for 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 4.37%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. As a group, analysts forecast that Tutor Perini will post 1.58 earnings per share for the current year.
In related news, CEO Ronald N. Tutor sold 27,375 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $20.24, for a total transaction of $554,070.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 12,618 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $20.32, for a total value of $256,397.76. Following the transaction, the insider now owns 5,698,983 shares in the company, valued at $115,803,334.56. The disclosure for this sale can be found here. Insiders have sold 117,574 shares of company stock worth $2,367,300 over the last 90 days. 24.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. bought a new position in Tutor Perini during the second quarter worth $359,000. Sterling Capital Management LLC acquired a new stake in Tutor Perini in the second quarter worth $930,000. Nomura Holdings Inc. acquired a new stake in Tutor Perini in the second quarter worth $298,000. BlackRock Inc. increased its position in Tutor Perini by 1.7% in the second quarter. BlackRock Inc. now owns 2,563,435 shares of the construction company’s stock worth $47,295,000 after buying an additional 42,243 shares during the period. Finally, Foundry Partners LLC increased its position in Tutor Perini by 34.1% in the third quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock worth $307,000 after buying an additional 4,155 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.
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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