Tutor Perini (NYSE:TPC) Sets New 1-Year High - Should You Buy?

Key Points

• Tutor Perini Corporation (NYSE:TPC) reached a new 52-week high of $68.46 during trading, with the last traded price at $67.86, compared to a previous close of $64.22.
• Recent analyst ratings varied, with Weiss Ratings issuing a "sell" rating while UBS raised their target price from $59 to $67 and maintained a "buy" rating.
• Insider trading activity included Chairman Ronald N. Tutor selling 116,856 shares, reflecting a 2.74% decrease in ownership, suggesting a significant shift in insider sentiment.

Tutor Perini Corporation (NYSE:TPC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $68.46 and last traded at $67.86, with a volume of 268853 shares traded. The stock had previously closed at $64.22.

Analysts Set New Price Targets

Several brokerages have issued reports on TPC. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Zacks Research lowered Tutor Perini from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. UBS Group upped their target price on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. Finally, B. Riley upped their target price on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. 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. According to MarketBeat.com, Tutor Perini currently has an average rating of "Hold" and an average target price of $60.00.

Tutor Perini Stock Performance

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 company has a market cap of $3.54 billion, a P/E ratio of -26.64 and a beta of 1.86. The business has a fifty day moving average of $61.53 and a 200 day moving average of $45.24.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $1.12. The company had revenue of $1.37 billion during 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 firm's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share.

Insiders Place Their Bets

In other Tutor Perini news, Chairman Ronald N. Tutor sold 116,856 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total value of $7,503,323.76. Following the completion of the transaction, the chairman owned 4,154,129 shares in the company, valued at approximately $266,736,623.09. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sidney J. Feltenstein sold 124,668 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the transaction, the director owned 187,274 shares of the company's stock, valued at approximately $12,352,593.04. This trade represents a 39.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 725,000 shares of company stock valued at $44,824,931. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors have recently modified their holdings of TPC. Donald Smith & CO. Inc. boosted its position in shares of Tutor Perini by 16.8% during the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after buying an additional 580,963 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Tutor Perini by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after buying an additional 130,747 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Tutor Perini by 4,166.1% during the second quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company's stock valued at $53,947,000 after buying an additional 1,126,182 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Tutor Perini by 2.2% during the second quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company's stock valued at $49,094,000 after buying an additional 22,210 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Tutor Perini by 24.5% during the second quarter. American Century Companies Inc. now owns 989,612 shares of the construction company's stock valued at $46,294,000 after buying an additional 194,729 shares during the last quarter. 65.01% of the stock is 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.

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