Tutor Perini (NYSE:TPC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tutor Perini (NYSE:TPC) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Several other brokerages have also issued reports on TPC. UBS Group lifted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. B. Riley lifted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday.

Tutor Perini Stock Down 6.3 %

Shares of Tutor Perini stock traded down $2.09 during trading on Thursday, reaching $31.15. 438,599 shares of the company traded hands, compared to its average volume of 448,213. The firm has a market capitalization of $1.63 billion, a PE ratio of -12.03 and a beta of 1.50. The company has a 50 day moving average price of $25.95 and a 200-day moving average price of $22.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.65. Tutor Perini has a 1-year low of $6.86 and a 1-year high of $34.55.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.14). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.43%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.71) EPS. As a group, equities research analysts expect that Tutor Perini will post -1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its position in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Tutor Perini in the second quarter worth $51,000. Plato Investment Management Ltd bought a new position in Tutor Perini during the third quarter valued at $52,000. nVerses Capital LLC purchased a new stake in shares of Tutor Perini in the second quarter valued at $63,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Tutor Perini in the 1st quarter worth about $77,000. 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.