Tutor Perini (NYSE:TPC) Shares Down 20.4% - What's Next?

Shares of Tutor Perini Co. (NYSE:TPC - Get Free Report) traded down 20.4% during mid-day trading on Friday . The stock traded as low as $25.23 and last traded at $19.57. 283,919 shares were traded during mid-day trading, a decline of 32% from the average session volume of 419,539 shares. The stock had previously closed at $24.57.

Analysts Set New Price Targets

A number of research firms have commented on TPC. UBS Group lifted their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Vertical Research started coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price objective on the stock. B. Riley boosted their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Friday, January 3rd.

Tutor Perini Price Performance

The stock has a market capitalization of $1.33 billion, a P/E ratio of -10.14 and a beta of 1.54. 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 firm has a fifty day moving average price of $26.24 and a two-hundred day moving average price of $24.92.

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

Insider Buying and Selling

In related news, Director Raymond R. Oneglia sold 50,000 shares of the stock in a transaction that occurred 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. This represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPC. Plato Investment Management Ltd bought a new stake in Tutor Perini during the third quarter valued at about $52,000. CWM LLC grew its position in shares of Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company's stock worth $71,000 after purchasing an additional 908 shares in the last quarter. USA Financial Formulas raised its stake in 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. FMR LLC raised its stake in Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company's stock valued at $128,000 after purchasing an additional 2,399 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in Tutor Perini in the 2nd quarter worth approximately $158,000. Hedge funds and other 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.

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