Tutor Perini (NYSE:TPC) Stock Price Down 55% - What's Next?

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s stock price traded down 55% on Friday . The company traded as low as $41.16 and last traded at $18.88. 227,598 shares were traded during mid-day trading, a decline of 59% from the average session volume of 552,730 shares. The stock had previously closed at $41.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. B. Riley restated a "buy" rating and set a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a report on Friday, June 6th. 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 note on Friday, May 9th. Finally, Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Tutor Perini Price Performance

The company's fifty day moving average price is $31.66 and its two-hundred day moving average price is $26.84. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -14.57 and a beta of 1.74.

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

Insider Buying and Selling

In other news, Chairman Ronald N. Tutor sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $38.62, for a total value of $3,862,000.00. Following the completion of the sale, the chairman now owns 4,730,985 shares of the company's stock, valued at approximately $182,710,640.70. This represents a 2.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the completion of the sale, the director now owns 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. Over the last three months, insiders sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Tutor Perini by 32.5% during the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after buying an additional 510 shares during the period. New Age Alpha Advisors LLC acquired a new position in Tutor Perini in the 1st quarter valued at $54,000. Comerica Bank increased its position in Tutor Perini by 30.7% during 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 period. CWM LLC increased its position in Tutor Perini by 32.8% during 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 period. Finally, AlphaQuest LLC lifted its holdings 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 worth $80,000 after buying an additional 3,074 shares in the last quarter. 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.

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