Tutor Perini (NYSE:TPC) Raised to "Buy" at StockNews.com

Tutor Perini (NYSE:TPC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Monday.

A number of other brokerages have also issued reports on TPC. 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 report on Wednesday, October 23rd. Vertical Research initiated coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target on the stock. Finally, B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

Tutor Perini Price Performance

NYSE:TPC traded up $0.27 on Monday, hitting $26.47. The company had a trading volume of 361,325 shares, compared to its average volume of 444,646. The firm has a 50 day moving average of $27.66 and a two-hundred day moving average of $24.44. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -10.55 and a beta of 1.49. Tutor Perini has a 52 week low of $7.83 and a 52 week high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

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

Insider Buying and Selling

In other Tutor Perini news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the sale, the director now directly owns 250,000 shares of the company's stock, valued at approximately $7,170,000. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 125,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now owns 3,257,313 shares of the company's stock, valued at approximately $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $9,686,000 over the last 90 days. Company insiders own 19.50% of the company's stock.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors have recently modified their holdings of TPC. Fred Alger Management LLC acquired a new stake in Tutor Perini in the 3rd quarter valued at $16,034,000. Hennessy Advisors Inc. acquired a new position in shares of Tutor Perini during the second quarter valued at about $12,362,000. Jacobs Levy Equity Management Inc. increased its position in shares of Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company's stock worth $21,277,000 after acquiring an additional 441,858 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company's stock worth $16,546,000 after acquiring an additional 284,627 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company's stock valued at $11,742,000 after acquiring an additional 246,901 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

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.

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