Tutor Perini (NYSE:TPC) Stock Price Down 60.7% - Here's Why

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s share price fell 60.7% on Tuesday . The company traded as low as $46.84 and last traded at $19.25. 190,125 shares were traded during trading, a decline of 67% from the average session volume of 569,303 shares. The stock had previously closed at $48.97.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Tutor Perini from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. UBS Group upped their price target on Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, B. Riley reissued a "buy" rating and issued a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

Tutor Perini Price Performance

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 stock has a 50-day moving average price of $42.26 and a 200 day moving average price of $30.26. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -16.82 and a beta of 1.79.

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, topping analysts' consensus estimates of $0.06 by $0.47. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The business's revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS.

Insider Activity at Tutor Perini

In related news, Director Raymond R. Oneglia sold 25,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the sale, the director directly owned 90,470 shares of the company's stock, valued at $3,269,585.80. The trade was a 21.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chairman directly owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. 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 in the last quarter. 17.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised 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 worth $48,000 after purchasing an additional 510 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Tutor Perini in the 1st quarter worth about $54,000. Comerica Bank lifted its position in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after buying an additional 569 shares during the last quarter. CWM LLC lifted its position in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after buying an additional 850 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in Tutor Perini by 849.2% in the 1st 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 during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Company Profile

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.