Tutor Perini (NYSE:TPC) Shares Down 56.4% - What's Next?

Tutor Perini Co. (NYSE:TPC - Get Free Report) shares dropped 56.4% during mid-day trading on Friday . The company traded as low as $41.39 and last traded at $18.65. Approximately 108,397 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 550,645 shares. The stock had previously closed at $42.72.

Analyst Upgrades and Downgrades

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

Tutor Perini Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50 day moving average price of $29.98 and a 200 day moving average price of $26.42. The stock has a market capitalization of $2.21 billion, a PE ratio of -16.73 and a beta of 1.74.

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 the consensus estimate of $0.06 by $0.47. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini's revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS.

Insider Activity at Tutor Perini

In related news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the sale, the director now directly owns 115,470 shares in the company, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ronald N. Tutor sold 29,522 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $40.51, for a total transaction of $1,195,936.22. Following the transaction, the chairman now owns 4,701,463 shares in the company, valued at $190,456,266.13. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 over the last 90 days. Corporate insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted 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 valued at $48,000 after buying an additional 510 shares during the period. Aristeia Capital L.L.C. lifted its holdings in Tutor Perini by 4.6% in the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after acquiring an additional 530 shares during the period. Comerica Bank boosted its position in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after purchasing an additional 569 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Tutor Perini by 7.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after purchasing an additional 700 shares during the period. Finally, CWM LLC increased its position in shares of Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after purchasing an additional 850 shares during the last quarter. Hedge funds and other institutional investors 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.