Tutor Perini (NYSE:TPC) Shares Down 65.5% - Should You Sell?

Key Points

• Tutor Perini's stock price plummeted 65.5% to $19.46 from a previous close of $56.41, with trading volume declining by 40% compared to the average session.
• Analysts have shown optimism, with Wall Street Zen upgrading the stock from "buy" to "strong-buy," and B. Riley raising the price target from $50 to $75.
• During its last quarterly earnings report, Tutor Perini exceeded expectations with an EPS of $1.41 and achieved revenues of $1.37 billion, a 21.8% increase year-over-year.

Shares of Tutor Perini Corporation (NYSE:TPC - Get Free Report) traded down 65.5% during mid-day trading on Monday . The company traded as low as $56.51 and last traded at $19.46. 407,083 shares traded hands during trading, a decline of 40% from the average session volume of 680,384 shares. The stock had previously closed at $56.41.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday. B. Riley upped their target price on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. UBS Group upped their target price on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Zacks Research raised Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Tutor Perini presently has an average rating of "Buy" and an average price target of $60.00.

Tutor Perini Stock Performance

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $46.94 and a 200-day moving average of $33.20. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -22.48 and a beta of 1.83.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $1.12. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%. The firm's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS.

Insider Activity at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini 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 transaction, the chairman owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 310,000 shares of company stock worth $12,270,901. 17.30% of the stock is owned by company insiders.

Institutional Trading of Tutor Perini

Several institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its position in shares of Tutor Perini by 54.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,773 shares of the construction company's stock valued at $364,000 after purchasing an additional 2,729 shares during the period. Vident Advisory LLC acquired a new stake in Tutor Perini in the 2nd quarter worth about $590,000. Voleon Capital Management LP boosted its holdings in Tutor Perini by 189.0% in the 2nd quarter. Voleon Capital Management LP now owns 47,973 shares of the construction company's stock worth $2,244,000 after buying an additional 31,372 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Tutor Perini by 108.9% in the 2nd quarter. Lazard Asset Management LLC now owns 21,013 shares of the construction company's stock worth $981,000 after buying an additional 10,954 shares during the last quarter. Finally, HRT Financial LP acquired a new stake in Tutor Perini in the 2nd quarter worth about $3,480,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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.