Tutor Perini (NYSE:TPC) Given New $75.00 Price Target at B. Riley

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 - Free Report) had its price target lifted by B. Riley from $50.00 to $75.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the construction company's stock.

A number of other brokerages 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, August 3rd. UBS Group raised their target price on shares of Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, July 10th.

Tutor Perini Trading Up 0.4%

Shares of TPC traded up $0.21 during trading hours on Thursday, reaching $56.62. The stock had a trading volume of 1,162,367 shares, compared to its average volume of 685,630. The company has a market cap of $2.99 billion, a P/E ratio of -22.47 and a beta of 1.83. Tutor Perini has a 52 week low of $18.33 and a 52 week high of $63.96. The firm has a 50-day moving average of $45.01 and a 200 day moving average of $32.19. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the company earned $0.02 EPS. The business's revenue was up 21.8% on a year-over-year basis.

Insiders Place Their Bets

In other news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction on 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 sale, the chairman directly owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the transaction, the director owned 90,470 shares in the company, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by corporate insiders.

Institutional Trading of Tutor Perini

Institutional investors and hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. boosted its holdings in Tutor Perini by 16.8% during the 1st 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 period. Pacer Advisors Inc. acquired a new position in shares of Tutor Perini during the 1st quarter valued at about $13,122,000. Fred Alger Management LLC grew its stake in shares of Tutor Perini by 91.9% in the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after buying an additional 542,647 shares in the last quarter. Amanah Holdings Trust purchased a new position in shares of Tutor Perini during the 2nd quarter valued at approximately $19,163,000. Finally, First Trust Advisors LP boosted its stake in shares of 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 during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

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.