Tutor Perini (NYSE:TPC) Downgraded to Hold Rating by Zacks Research

Key Points

• Tutor Perini has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment regarding the stock.
• Despite the downgrade, several analysts have set target prices ranging from $50 to $75, with a consensus average target price of $60.
• The company reported significant earnings, posting an EPS of $1.41 for the last quarter, beating estimates and achieving a revenue increase of 21.8% year-over-year.

Tutor Perini (NYSE:TPC - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on TPC. B. Riley upped their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Tutor Perini in a research note on Saturday, September 27th. UBS Group upped their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $60.00.

Tutor Perini Stock Performance

Shares of NYSE:TPC opened at $61.49 on Monday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -24.40 and a beta of 1.86. Tutor Perini has a 12 month low of $18.33 and a 12 month high of $68.09. The firm's 50-day moving average is $59.35 and its 200 day moving average is $43.08. The company has a current ratio of 1.32, a quick 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 results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating the consensus estimate of $0.29 by $1.12. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm's revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS.

Insider Activity at Tutor Perini

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the sale, the director owned 187,274 shares of the company's stock, valued at approximately $12,352,593.04. This represents a 39.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ronald N. Tutor sold 83,144 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares of the company's stock, valued at $263,850,245.90. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 725,000 shares of company stock valued at $44,824,931 in the last ninety days. Corporate insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently bought and sold shares of TPC. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% in the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tutor Perini in the first quarter valued at approximately $54,000. Comerica Bank boosted its stake in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares in the last quarter. CWM LLC boosted its stake in Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after acquiring an additional 850 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after acquiring an additional 3,074 shares in the last quarter. Hedge funds and other 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.

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