Tutor Perini (NYSE:TPC) Price Target Raised to $39.00 at UBS Group

Tutor Perini (NYSE:TPC - Free Report) had its price target hoisted by UBS Group from $27.00 to $39.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company's stock.

Tutor Perini Stock Performance

Shares of NYSE:TPC traded down $1.21 during trading on Wednesday, hitting $28.25. 523,342 shares of the company traded hands, compared to its average volume of 449,536. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -13.53 and a beta of 1.50. The business's fifty day moving average is $24.64 and its 200-day moving average is $21.63. Tutor Perini has a one year low of $6.86 and a one year high of $30.99. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned ($0.72) earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that Tutor Perini will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company's stock valued at $37,000 after purchasing an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter valued at $51,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter valued at $63,000. EntryPoint Capital LLC acquired a new stake in shares of Tutor Perini during the 1st quarter valued at $77,000. Finally, Quest Partners LLC lifted its position in shares of Tutor Perini by 537.2% during the 2nd quarter. Quest Partners LLC now owns 4,148 shares of the construction company's stock valued at $90,000 after acquiring an additional 3,497 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.