Tutor Perini (NYSE:TPC) Shares Down 59.5% - What's Next?

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s share price fell 59.5% during trading on Monday . The company traded as low as $46.15 and last traded at $18.99. 165,314 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 663,497 shares. The stock had previously closed at $46.85.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TPC shares. UBS Group boosted their price target on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. B. Riley reaffirmed a "buy" rating and set a $50.00 price objective (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Finally, Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Tutor Perini Stock Performance

The company has a market cap of $2.47 billion, a PE ratio of -16.25 and a beta of 1.74. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The business's 50 day moving average is $34.98 and its two-hundred day moving average is $27.73.

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

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total value of $2,717,250.00. Following the sale, the director directly owned 115,470 shares in the company, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction dated 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 directly owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 410,000 shares of company stock valued at $15,891,651 over the last 90 days. 17.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently made changes to their positions in TPC. GAMMA Investing LLC boosted its stake 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 buying an additional 510 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Tutor Perini during the 1st quarter worth approximately $54,000. Comerica Bank boosted its position in shares of Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares during the last quarter. AlphaQuest LLC grew its holdings 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 purchasing an additional 3,074 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after purchasing an additional 850 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.