Tutor Perini (NYSE:TPC) Hits New 52-Week High Following Analyst Upgrade

Shares of Tutor Perini Corporation (NYSE:TPC - Get Free Report) reached a new 52-week high on Friday after UBS Group raised their price target on the stock from $41.00 to $59.00. UBS Group currently has a buy rating on the stock. Tutor Perini traded as high as $49.07 and last traded at $49.05, with a volume of 229747 shares trading hands. The stock had previously closed at $48.06.

A number of other analysts have also issued reports on TPC. Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. B. Riley reaffirmed a "buy" rating and issued a $50.00 price objective (up from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th.

Insider Transactions at Tutor Perini

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

Institutional Trading of Tutor Perini

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after buying an additional 510 shares in the last quarter. Aristeia Capital L.L.C. boosted its holdings in shares of Tutor Perini by 4.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after buying an additional 530 shares in the last quarter. Comerica Bank boosted its holdings in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after buying an additional 569 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after buying an additional 700 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after buying an additional 850 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Stock Down 60.6%

The firm has a market capitalization of $1.02 billion, a P/E ratio of -6.71 and a beta of 1.79. 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 business's fifty day moving average price is $39.70 and its two-hundred day moving average price is $29.15.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.47. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. Tutor Perini's revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS.

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.