Tutor Perini (NYSE:TPC) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Tutor Perini Corporation shares have crossed above their 200-day moving average, which is a positive technical indicator for the stock.
• Several analysts have increased their target price for Tutor Perini, with B. Riley raising it from $50 to $75, while Zacks Research downgraded the stock from "strong-buy" to "hold."
• Insider trading was notable, with Director Sidney J. Feltenstein and Chairman Ronald N. Tutor selling large volumes of shares, indicating potential concerns about the stock’s future performance.

Tutor Perini Corporation (NYSE:TPC - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.59 and traded as high as $63.95. Tutor Perini shares last traded at $60.52, with a volume of 594,315 shares.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TPC shares. 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. Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. UBS Group increased their price objective on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Zacks Research downgraded shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tutor Perini in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $60.00.

Tutor Perini Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -24.02 and a beta of 1.86. The business's fifty day simple moving average is $60.24 and its 200 day simple moving average is $43.59.

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

Insiders Place Their Bets

In other news, Director Sidney J. Feltenstein sold 124,668 shares of Tutor Perini stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. This trade represents a 39.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of Tutor Perini stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the transaction, the chairman owned 4,062,985 shares of the company's stock, valued at $263,850,245.90. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 725,000 shares of company stock valued at $44,824,931 over the last 90 days. Corporate insiders own 17.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TPC. First Trust Advisors LP lifted 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 purchasing an additional 1,126,182 shares in the last quarter. Donald Smith & CO. Inc. lifted 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 purchasing an additional 580,963 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Tutor Perini during the first quarter valued at about $13,122,000. Prudential Financial Inc. lifted its position in shares of Tutor Perini by 438.4% during the second quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company's stock valued at $28,569,000 after purchasing an additional 497,296 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Tutor Perini by 209.4% during the third quarter. Assenagon Asset Management S.A. now owns 720,405 shares of the construction company's stock valued at $47,251,000 after purchasing an additional 487,529 shares in the last quarter. 65.01% of the stock is owned by 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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