Tutor Perini (NYSE:TPC) Shares Gap Down - Time to Sell?

Tutor Perini Co. (NYSE:TPC - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $29.72, but opened at $28.32. Tutor Perini shares last traded at $28.86, with a volume of 43,600 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on 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 boosted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Finally, StockNews.com lowered Tutor Perini from a "buy" rating to a "hold" rating in a research note on Friday.

Tutor Perini Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The stock's fifty day simple moving average is $26.85 and its two-hundred day simple moving average is $23.39. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -11.50 and a beta of 1.50.

Tutor Perini (NYSE:TPC - Get Free Report) last posted 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 return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the firm posted ($0.71) earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the business'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 value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. XTX Topco Ltd acquired a new stake in Tutor Perini during the 2nd quarter valued at approximately $746,000. Acadian Asset Management LLC increased its holdings in Tutor Perini by 152.0% during the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company's stock worth $4,227,000 after acquiring an additional 176,398 shares during the period. Empowered Funds LLC grew its stake in Tutor Perini by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company's stock worth $7,293,000 after buying an additional 32,676 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Tutor Perini in the 2nd quarter worth approximately $482,000. Finally, Caxton Associates LP increased its stake in shares of Tutor Perini by 254.0% in the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company's stock worth $1,687,000 after buying an additional 55,583 shares during the period. 65.01% of the stock is owned by institutional investors and hedge funds.

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.

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