Tutor Perini (NYSE:TPC) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Analysts at Wall Street Zen upgraded Tutor Perini from a "buy" to a "strong-buy" rating, reflecting increased investor confidence.
• UBS Group raised its price target on Tutor Perini from $59.00 to $67.00, while B. Riley increased their price target from $50.00 to $75.00.
• Tutor Perini reported quarterly earnings of $1.41 per share, significantly surpassing analyst estimates of $0.29, and achieved a revenue of $1.37 billion for the quarter.

Tutor Perini (NYSE:TPC - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday.

Several other analysts have also recently weighed in on TPC. UBS Group lifted their price objective on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. B. Riley upped their price objective on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th.

Tutor Perini Price Performance

NYSE:TPC traded down $1.18 during trading hours on Monday, hitting $56.57. 155,017 shares of the company's stock traded hands, compared to its average volume of 684,383. The firm has a market cap of $2.98 billion, a P/E ratio of -22.46 and a beta of 1.83. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $46.22 and its two-hundred day simple moving average is $32.80. Tutor Perini has a 52 week low of $18.33 and a 52 week high of $63.96.

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

Insider Activity at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the sale, the chairman owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 310,000 shares of company stock valued at $12,270,901. 17.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of 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 period. New Age Alpha Advisors LLC acquired a new position in Tutor Perini during the first quarter valued at $54,000. Comerica Bank lifted its position in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after purchasing an additional 569 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Tutor Perini during the second quarter valued at $145,000. Finally, AlphaQuest LLC lifted its position in Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after purchasing an additional 3,074 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.