Tutor Perini (NYSE:TPC) Stock Price Down 58.2% - Time to Sell?

Shares of Tutor Perini Corporation (NYSE:TPC - Get Free Report) fell 58.2% on Wednesday . The company traded as low as $46.88 and last traded at $19.73. 176,910 shares changed hands during trading, a decline of 69% from the average session volume of 565,734 shares. The stock had previously closed at $47.15.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPC. B. Riley reaffirmed a "buy" rating and set a $50.00 price target (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, UBS Group boosted their target price on shares of Tutor Perini from $41.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday.

Tutor Perini Trading Up 1.7%

The stock has a market cap of $2.58 billion, a P/E ratio of -16.98 and a beta of 1.79. 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 firm's 50 day simple moving average is $39.70 and its two-hundred day simple moving average is $29.12.

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, beating the consensus estimate of $0.06 by $0.47. The company 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 company's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share.

Insider Activity

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction dated 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 represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raymond R. Oneglia sold 25,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 in the last ninety days. Corporate insiders own 17.30% of the company's stock.

Institutional Trading of Tutor Perini

Several institutional investors and hedge funds have recently bought and sold shares of TPC. GAMMA Investing LLC raised its holdings in 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 stake in Tutor Perini during the 1st quarter worth about $54,000. Comerica Bank increased its holdings 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 valued at $56,000 after purchasing an additional 569 shares during the period. CWM LLC increased its holdings 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 valued at $80,000 after purchasing an additional 850 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of 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 period. 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.