Tutor Perini (NYSE:TPC) Shares Down 61.4% - Should You Sell?

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s stock price was down 61.4% on Tuesday . The stock traded as low as $48.44 and last traded at $19.13. Approximately 162,017 shares were traded during trading, a decline of 71% from the average daily volume of 566,606 shares. The stock had previously closed at $49.51.

Analysts Set New Price Targets

Several research analysts have weighed in on TPC shares. B. Riley reaffirmed a "buy" rating and set a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Wall Street Zen downgraded Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, UBS Group lifted their target price on Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th.

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 company has a 50 day moving average price of $41.17 and a 200 day moving average price of $29.58. The company has a market capitalization of $2.64 billion, a P/E ratio of -17.40 and a beta of 1.79.

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

Insider Buying and Selling 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 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 directly owned 90,470 shares in the company, valued at $3,269,585.80. The trade was a 21.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $5,340,464.54. Following the completion of the sale, the chairman 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 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 over the last 90 days. 17.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Tutor Perini

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after purchasing an additional 510 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini during the 1st quarter valued at $54,000. Comerica Bank lifted 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 period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Tutor Perini during the 2nd quarter valued at $145,000. Finally, AlphaQuest LLC lifted its position in shares of Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after acquiring an additional 3,074 shares during the period. 65.01% of the stock is currently 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.