Tutor Perini Corporation (NYSE:TPC) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Tutor Perini Corporation has received a consensus rating of "Moderate Buy" from five brokerages, including one sell rating, three buy ratings, and one strong buy rating.
• Analysts have set an average 12-month price target of $60.00 for Tutor Perini, with recent upgrades by B. Riley and UBS Group increasing their targets significantly.
• Major insider sales included Director Sidney J. Feltenstein selling 124,668 shares valued at over $8 million, indicating a substantial decrease in their ownership stake.

Shares of Tutor Perini Corporation (NYSE:TPC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the five brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $60.00.

TPC has been the topic of several analyst reports. B. Riley increased their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tutor Perini in a research report on Saturday, September 27th. UBS Group increased their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th.

Insider Activity at Tutor Perini

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the firm's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director owned 187,274 shares of the company's stock, valued at approximately $12,352,593.04. This trade represents a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 116,856 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the transaction, the chairman directly owned 4,154,129 shares of the company's stock, valued at $266,736,623.09. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 725,000 shares of company stock valued at $44,824,931. 17.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after buying an additional 510 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Tutor Perini during the first quarter worth $54,000. Comerica Bank raised its stake in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after buying an additional 569 shares during the last quarter. CWM LLC raised its stake in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after buying an additional 850 shares during the last quarter. Finally, AlphaQuest LLC raised its stake in Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after buying an additional 3,074 shares during the last quarter. Institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Performance

Shares of TPC traded up $0.28 during mid-day trading on Friday, hitting $62.32. 471,768 shares of the company's stock were exchanged, compared to its average volume of 662,288. Tutor Perini has a 52 week low of $18.33 and a 52 week high of $68.09. The stock's 50-day simple moving average is $58.46 and its 200-day simple moving average is $42.07. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -24.73 and a beta of 1.86. 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 announced its earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS 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 company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the firm earned $0.02 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis.

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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