Tutor Perini (NYSE:TPC) Stock Rating Upgraded by 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 equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Monday.

TPC has been the topic of several other reports. B. Riley lifted their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. UBS Group lifted their price target on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th.

Tutor Perini Stock Performance

TPC traded down $1.08 during trading hours on Monday, hitting $57.69. The company's stock had a trading volume of 474,277 shares, compared to its average volume of 685,861. Tutor Perini has a fifty-two week low of $18.33 and a fifty-two week high of $63.96. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.04 billion, a PE ratio of -22.91 and a beta of 1.83. The company has a 50-day simple moving average of $45.83 and a 200 day simple moving average of $32.63.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its 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. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%. The firm 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 EPS. The firm's revenue was up 21.8% compared to the same quarter last year.

Insider Buying and Selling at Tutor Perini

In other news, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the sale, the director owned 90,470 shares of the company's stock, valued at $3,269,585.80. This trade represents a 21.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was 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 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,000 shares of company stock valued at $13,174,401. Corporate insiders own 17.30% of the company's stock.

Institutional Trading of Tutor Perini

A number of institutional investors have recently bought and sold shares of the company. KLP Kapitalforvaltning AS boosted its position in Tutor Perini by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company's stock valued at $463,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC boosted its position in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after purchasing an additional 510 shares during the last quarter. Aristeia Capital L.L.C. boosted its position in Tutor Perini by 4.6% during the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after purchasing an additional 530 shares during the last quarter. Comerica Bank boosted 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 last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in Tutor Perini by 6.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 10,176 shares of the construction company's stock valued at $476,000 after purchasing an additional 639 shares during the last quarter. Institutional investors and hedge funds 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.