Tutor Perini (NYSE:TPC) Shares Down 17.6% - What's Next?

Tutor Perini Co. (NYSE:TPC - Get Free Report) traded down 17.6% during trading on Monday . The stock traded as low as $22.36 and last traded at $19.39. 17,607 shares were traded during trading, a decline of 97% from the average session volume of 515,541 shares. The stock had previously closed at $23.52.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TPC. B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th. Vertical Research assumed coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price objective on the stock. Finally, StockNews.com lowered shares of Tutor Perini from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th.

Tutor Perini Stock Performance

The company has a market cap of $1.07 billion, a P/E ratio of -8.13 and a beta of 1.47. The company's fifty day moving average is $24.11 and its 200 day moving average is $25.67. 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 issued its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the company earned ($0.91) earnings per share.

Remove Ads

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock worth $1,898,000 after acquiring an additional 52,319 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Tutor Perini by 611.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company's stock worth $14,568,000 after purchasing an additional 460,945 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock valued at $27,795,000 after purchasing an additional 38,458 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Tutor Perini by 67.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company's stock valued at $2,255,000 after buying an additional 37,478 shares during the period. Finally, State Street Corp raised its stake in Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company's stock worth $26,483,000 after buying an additional 19,518 shares in the last quarter. Institutional investors own 65.01% 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.