Tutor Perini (NYSE:TPC) Shares Up 13.7% After Analyst Upgrade

Tutor Perini Co. (NYSE:TPC)’s stock price was up 13.7% during trading on Thursday after B. Riley raised their price target on the stock from $38.00 to $40.00. B. Riley currently has a buy rating on the stock. Tutor Perini traded as high as $34.44 and last traded at $34.44. Approximately 455,272 shares were traded during trading, an increase of 2% from the average daily volume of 446,501 shares. The stock had previously closed at $30.28.

A number of other research firms also recently weighed in on TPC. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group upped 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Tutor Perini by 13.9% during the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after acquiring an additional 32,676 shares during the period. Plato Investment Management Ltd bought a new position in Tutor Perini during the third quarter worth $52,000. US Bancorp DE increased its holdings in shares of Tutor Perini by 19,259.7% in the third quarter. US Bancorp DE now owns 14,907 shares of the construction company’s stock valued at $405,000 after purchasing an additional 14,830 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Tutor Perini by 3.6% in the third quarter. Pinnacle Associates Ltd. now owns 296,235 shares of the construction company’s stock valued at $8,046,000 after purchasing an additional 10,218 shares during the period. Finally, Creative Planning lifted its stake in shares of Tutor Perini by 62.2% during the 3rd quarter. Creative Planning now owns 23,256 shares of the construction company’s stock worth $632,000 after buying an additional 8,917 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Stock Up 9.8 %

The firm has a market cap of $1.74 billion, a P/E ratio of -25.84 and a beta of 1.50. The firm’s fifty day moving average is $25.75 and its 200 day moving average is $22.57. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65.

Tutor Perini (NYSE:TPC) last posted 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 analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. Tutor Perini’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.71) EPS. As a group, equities research analysts anticipate that Tutor Perini Co. will post -1 earnings per share for the current fiscal year.

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.