Tutor Perini (NYSE:TPC) Trading Down 65.5% - What's Next?

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.

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s share price fell 65.5% on Monday . The stock traded as low as $56.51 and last traded at $19.46. 407,083 shares changed hands during mid-day 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

TPC has been the topic of a number of recent analyst reports. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday. B. Riley raised their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday. Finally, UBS Group lifted their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a report on Thursday.

Tutor Perini Stock Up 0.4%

The firm has a market capitalization of $2.99 billion, a PE ratio of -22.47 and a beta of 1.83. The business's 50 day simple moving average is $45.01 and its 200 day simple moving average is $32.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the company posted $0.02 EPS. The business's revenue was up 21.8% 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 dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the transaction, the chairman directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond R. Oneglia sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the completion of the sale, the director directly owned 115,470 shares of the company's stock, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently added to or reduced their stakes in TPC. LPL Financial LLC boosted its position in Tutor Perini by 139.3% in the 4th quarter. LPL Financial LLC now owns 44,984 shares of the construction company's stock valued at $1,089,000 after buying an additional 26,186 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Tutor Perini by 3.7% in the 4th quarter. JPMorgan Chase & Co. now owns 556,078 shares of the construction company's stock valued at $13,457,000 after purchasing an additional 19,694 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Tutor Perini by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock valued at $2,135,000 after purchasing an additional 8,309 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Tutor Perini by 11.7% in the 4th quarter. Wells Fargo & Company MN now owns 52,960 shares of the construction company's stock valued at $1,282,000 after purchasing an additional 5,533 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Tutor Perini by 46.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock valued at $353,000 after purchasing an additional 4,649 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other 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.

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