B. Riley Raises Tutor Perini (NYSE:TPC) Price Target to $75.00

Key Points

• B. Riley has raised Tutor Perini's price target from $50.00 to $75.00, indicating a potential upside of 31.56%, while maintaining a "buy" rating on the stock.
• Shares of Tutor Perini increased by 20.6% on Thursday, reaching $57.01, with significant trading volume surpassing the average.
• Insider transactions revealed that Chairman Ronald N. Tutor sold 130,478 shares and Director Raymond R. Oneglia sold 75,000 shares of the company's stock recently.

Tutor Perini (NYSE:TPC - Get Free Report) had its price objective raised by investment analysts at B. Riley from $50.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. B. Riley's target price indicates a potential upside of 31.56% from the company's current price.

A number of other research analysts have also commented on TPC. Wall Street Zen lowered shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Sunday. UBS Group upped their price objective on shares of Tutor Perini from $41.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, July 10th.

Tutor Perini Stock Up 20.6%

Shares of NYSE:TPC traded up $9.73 on Thursday, hitting $57.01. 1,350,792 shares of the company's stock were exchanged, compared to its average volume of 670,337. The firm's 50-day moving average is $44.27 and its 200 day moving average is $31.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $3.00 billion, a PE ratio of -19.79 and a beta of 1.83. Tutor Perini has a 1-year low of $18.29 and a 1-year high of $63.96.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.09. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company posted $0.02 EPS. The business's quarterly revenue was up 21.8% on a year-over-year basis.

Insider Buying and Selling at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the transaction, the chairman owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the sale, the director owned 115,470 shares in the company, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 in the last quarter. 17.30% of the stock is currently owned by company insiders.

Institutional Trading of Tutor Perini

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Donald Smith & CO. Inc. raised its stake in shares of Tutor Perini by 16.8% during the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after acquiring an additional 580,963 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Tutor Perini in the 1st quarter valued at $13,122,000. Fred Alger Management LLC boosted its stake in shares of Tutor Perini by 91.9% during the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock worth $27,419,000 after purchasing an additional 542,647 shares during the period. Amanah Holdings Trust purchased a new position in shares of Tutor Perini during the 2nd quarter worth about $19,163,000. Finally, First Trust Advisors LP lifted its holdings in Tutor Perini by 74.6% during the 4th quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock valued at $22,711,000 after buying an additional 401,117 shares in the last quarter. 65.01% of the stock is currently 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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