Weiss Ratings Reiterates Sell (D-) Rating for Tutor Perini (NYSE:TPC)

Key Points

• Weiss Ratings has reaffirmed its "sell (D-)" rating for Tutor Perini (NYSE:TPC), reflecting ongoing concerns about the company's performance.
• While Weiss Ratings maintains a sell stance, other analysts have mixed views, with B. Riley and UBS Group issuing "buy" ratings and raising price targets significantly.
• Tutor Perini's stock saw a 3.3% increase in midday trading, reaching $63.63, after reporting earnings per share of $1.41, which beat analyst estimates by $1.12.

Tutor Perini (NYSE:TPC - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently issued reports on TPC. B. Riley boosted their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Zacks Research downgraded Tutor Perini from a "strong-buy" rating to a "hold" rating in a research report on Monday. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. Finally, UBS Group boosted their price target on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.00.

Tutor Perini Trading Up 3.3%

Shares of NYSE:TPC traded up $2.02 during midday trading on Wednesday, reaching $63.63. The company's stock had a trading volume of 424,718 shares, compared to its average volume of 659,233. The business has a 50 day moving average price of $59.35 and a 200 day moving average price of $43.08. Tutor Perini has a 1 year low of $18.33 and a 1 year high of $68.09. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of -25.25 and a beta of 1.86.

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

Insider Activity

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the business's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the sale, the director directly owned 187,274 shares of the company's stock, valued at $12,352,593.04. The trade was a 39.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ronald N. Tutor sold 116,856 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total value of $7,503,323.76. Following the completion of the sale, the chairman directly owned 4,154,129 shares of the company's stock, valued at approximately $266,736,623.09. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 725,000 shares of company stock worth $44,824,931. Insiders own 17.30% of the company's stock.

Institutional Trading of Tutor Perini

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its holdings in Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after buying an additional 580,963 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tutor Perini by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after purchasing an additional 130,747 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Tutor Perini by 4,166.1% during the second quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company's stock valued at $53,947,000 after purchasing an additional 1,126,182 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tutor Perini by 2.2% during the second quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company's stock valued at $49,094,000 after purchasing an additional 22,210 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Tutor Perini by 24.5% during the second quarter. American Century Companies Inc. now owns 989,612 shares of the construction company's stock valued at $46,294,000 after purchasing an additional 194,729 shares during the last quarter. 65.01% of the stock is owned by 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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