Tutor Perini (NYSE:TPC) Hits New 52-Week High - Should You Buy?

Shares of Tutor Perini Corporation (NYSE:TPC - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $51.01 and last traded at $19.12, with a volume of 850299 shares trading hands. The stock had previously closed at $48.83.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. B. Riley restated a "buy" rating and issued a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Wall Street Zen cut Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, UBS Group raised their target price on Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th.

Tutor Perini Trading Down 1.5%

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -17.40 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 has a fifty day moving average price of $41.17 and a 200 day moving average price of $29.66.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.30 EPS. The firm's quarterly revenue was up 18.8% compared to the same quarter last year.

Insider Activity

In other news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the sale, the director owned 115,470 shares of the company's stock, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the transaction, the chairman owned 4,570,985 shares in the company, valued at $187,090,416.05. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,000 shares of company stock worth $15,891,651 in the last ninety days. Corporate insiders own 17.30% of the company's stock.

Institutional Trading of Tutor Perini

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

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.