UBS Group Boosts Tutor Perini (NYSE:TPC) Price Target to $59.00

Tutor Perini (NYSE:TPC - Get Free Report) had its price target lifted by stock analysts at UBS Group from $41.00 to $59.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the construction company's stock. UBS Group's target price would indicate a potential upside of 22.79% from the stock's previous close.

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

Tutor Perini Stock Up 1.3%

Shares of TPC traded up $0.60 during mid-day trading on Thursday, hitting $48.05. 607,696 shares of the company's stock were exchanged, compared to its average volume of 567,031. The company has a market cap of $2.53 billion, a PE ratio of -16.68 and a beta of 1.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33. Tutor Perini has a 52 week low of $14.50 and a 52 week high of $48.88. The company has a 50-day simple moving average of $38.66 and a 200 day simple moving average of $28.76.

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

Insider Activity

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the sale, the chairman owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the transaction, the director owned 90,470 shares in the company, valued at $3,269,585.80. The trade was a 21.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 410,000 shares of company stock valued at $15,891,651. Insiders own 17.30% of the company's stock.

Institutional Trading of Tutor Perini

Several institutional investors and hedge funds have recently made changes to their positions in TPC. GAMMA Investing LLC raised its holdings in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after purchasing an additional 510 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini in the 1st quarter worth approximately $54,000. Comerica Bank raised its stake in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares in the last quarter. CWM LLC grew 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 worth $80,000 after acquiring an additional 850 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after buying an additional 3,074 shares in the last quarter. 65.01% of the stock is currently 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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