UBS Group Forecasts Strong Price Appreciation for Tutor Perini (NYSE:TPC) Stock

Tutor Perini (NYSE:TPC - Free Report) had its target price hoisted by UBS Group from $41.00 to $59.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the construction company's stock.

A number of other equities analysts have also weighed in on the company. Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. B. Riley reaffirmed a "buy" rating and set a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

Tutor Perini Trading Up 1.3%

Shares of Tutor Perini stock traded up $0.61 on Thursday, reaching $48.67. 145,871 shares of the company's stock were exchanged, compared to its average volume of 666,424. The company has a market capitalization of $2.56 billion, a P/E ratio of -16.90 and a beta of 1.79. Tutor Perini has a 52 week low of $14.50 and a 52 week high of $48.79. The firm's 50-day moving average is $39.18 and its two-hundred day moving average is $28.92. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.33.

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

Insider Buying and Selling

In related news, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction on 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 directly owned 115,470 shares of the company's stock, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the 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 sale, the chairman directly owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 410,000 shares of company stock worth $15,891,651 over the last ninety days. 17.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently bought and sold shares of TPC. Donald Smith & CO. Inc. grew its stake in Tutor Perini by 16.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after purchasing an additional 580,963 shares during the period. Boston Partners boosted its position in shares of Tutor Perini by 1,801.4% during the 4th quarter. Boston Partners now owns 605,450 shares of the construction company's stock valued at $14,666,000 after acquiring an additional 573,608 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Tutor Perini during the 1st quarter valued at about $13,122,000. Fred Alger Management LLC boosted its position in shares of Tutor Perini by 91.9% during the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after acquiring an additional 542,647 shares during the last quarter. Finally, Amanah Holdings Trust bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $19,163,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

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.