Tutor Perini (NYSE:TPC) Earns Buy Rating from Analysts at Vertical Research

Vertical Research started coverage on shares of Tutor Perini (NYSE:TPC - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $38.00 price objective on the construction company's stock.

TPC has been the subject of a number of other reports. UBS Group raised their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. B. Riley raised their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, StockNews.com cut Tutor Perini from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.

Tutor Perini Stock Down 0.3 %

Shares of Tutor Perini stock traded down $0.07 during midday trading on Tuesday, hitting $26.26. The company had a trading volume of 396,403 shares, compared to its average volume of 446,738. Tutor Perini has a 52-week low of $7.83 and a 52-week high of $34.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $1.38 billion, a P/E ratio of -10.49 and a beta of 1.49. The company has a 50 day moving average of $27.72 and a 200 day moving average of $24.28.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.71) earnings per share. On average, equities analysts predict that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Tutor Perini

In related news, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the transaction, the chief executive officer now owns 2,362,267 shares in the company, valued at $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the director now owns 400,000 shares in the company, valued at $11,492,000. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,000 shares of company stock worth $9,686,000. Company insiders own 19.50% of the company's stock.

Institutional Trading of Tutor Perini

Hedge funds have recently bought and sold shares of the company. USA Financial Formulas grew its stake in shares of Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company's stock valued at $94,000 after purchasing an additional 566 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Tutor Perini by 3.5% in the second quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company's stock worth $368,000 after buying an additional 571 shares during the last quarter. CWM LLC grew its position in Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company's stock valued at $71,000 after buying an additional 908 shares during the period. Plato Investment Management Ltd purchased a new stake in Tutor Perini during the third quarter valued at approximately $52,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Tutor Perini during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 65.01% of the company's stock.

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