Tutor Perini (NYSE:TPC) Stock Price Down 49.6% - What's Next?

Shares of Tutor Perini Co. (NYSE:TPC - Get Free Report) were down 49.6% on Thursday . The stock traded as low as $36.62 and last traded at $18.88. Approximately 128,043 shares changed hands during trading, a decline of 77% from the average daily volume of 549,261 shares. The stock had previously closed at $37.45.

Analyst Ratings Changes

TPC has been the subject of several research reports. B. Riley upgraded Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th. UBS Group raised their price objective on Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th.

Tutor Perini Stock Down 0.6%

The firm has a 50 day moving average of $26.44 and a 200 day moving average of $25.63. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -14.72 and a beta of 1.62. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.47. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The company's revenue for the quarter was up 18.8% compared to the same quarter last year.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the sale, the director now owns 90,470 shares of the company's stock, valued at approximately $3,269,585.80. This trade represents a 21.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Tutor Perini

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 purchased a new position in shares of Tutor Perini during the first quarter valued at approximately $54,000. Comerica Bank boosted its position in shares of Tutor Perini by 30.7% during 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 last quarter. AlphaQuest LLC boosted its position in shares of Tutor Perini by 849.2% during 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 last quarter. Finally, CWM LLC boosted its position in shares of Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after buying an additional 850 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

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.