Tutor Perini (NYSE:TPC) Stock Price Down 58.2% - Should You Sell?

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group raised their price objective on shares of Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, B. Riley reiterated a "buy" rating and issued a $50.00 price target (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

Tutor Perini Trading Up 1.7%

The firm has a market cap of $2.58 billion, a PE 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 company's 50 day moving average price is $39.18 and its two-hundred day moving average price is $28.92.

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

Insider Transactions at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction that occurred 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 directly owned 4,570,985 shares in the company, valued at $187,090,416.05. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $903,500.00. Following the transaction, the director directly owned 90,470 shares of the company's stock, valued at $3,269,585.80. This represents a 21.65% 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 worth $15,891,651 over the last 90 days. Company 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 business. Lingohr Asset Management GmbH acquired a new position in shares of Tutor Perini during the 2nd quarter valued at about $206,000. Amanah Holdings Trust purchased a new stake in Tutor Perini during the second quarter worth about $19,163,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Tutor Perini during the second quarter worth about $145,000. Voya Investment Management LLC increased its stake in shares of Tutor Perini by 70.0% during the first quarter. Voya Investment Management LLC now owns 22,573 shares of the construction company's stock worth $523,000 after buying an additional 9,294 shares during the period. Finally, Invst LLC purchased a new stake in shares of Tutor Perini during the first quarter worth approximately $766,000. 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.