Tutor Perini (NYSE:TPC) Stock Price Down 57.8% - Should You Sell?

Key Points

• Tutor Perini's shares plummeted 57.8%, closing at $19.50 after trading as low as $46.69, with a dramatic decline in average daily volume.
• Analysts have revised price targets for Tutor Perini, with B. Riley increasing their target to $50, while UBS Group set a new target of $59.
• Insider selling was notable, with significant transactions including a director shedding 75,000 shares, reflecting a 39.38% decrease in their position.

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s share price dropped 57.8% on Tuesday . The stock traded as low as $46.69 and last traded at $19.50. Approximately 117,370 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 663,341 shares. The stock had previously closed at $46.18.

Analysts Set New Price Targets

TPC has been the subject of a number of research analyst reports. B. Riley increased their target price on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday. Wall Street Zen downgraded shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 3rd. Finally, UBS Group increased their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday.

Tutor Perini Price Performance

The company has a quick ratio of 1.33, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -22.44 and a beta of 1.83. The company's 50-day simple moving average is $45.01 and its 200 day simple moving average is $32.16.

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, 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 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 in the prior year, the business posted $0.02 earnings per share.

Insiders Place Their Bets

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction 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 completion of the transaction, the chairman owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. The trade was a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Oneglia sold 75,000 shares of the business's stock in a transaction 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 transaction, the director directly owned 115,470 shares of the company's stock, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,000 shares of company stock valued at $15,891,651. Company insiders own 17.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position 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 valued at $48,000 after buying an additional 510 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini in the first quarter valued at about $54,000. Comerica Bank lifted its stake in shares of Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after buying an additional 569 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Tutor Perini in the second quarter valued at about $145,000. Finally, AlphaQuest LLC lifted its stake in shares of Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after buying an additional 3,074 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.

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.