Canaccord Genuity Reaffirms “Buy” Rating for Tutor Perini (TPC)

Canaccord Genuity Reaffirms “Buy” Rating for Tutor Perini (TPC)

Canaccord Genuity restated their buy rating on shares of Tutor Perini (NYSE:TPC) in a report issued on Friday. Canaccord Genuity currently has a $32.00 price objective on the construction company’s stock.

A number of other research firms have also commented on TPC. ValuEngine raised shares of Tutor Perini from a hold rating to a buy rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Tutor Perini from a hold rating to a buy rating and set a $24.00 price target on the stock in a research report on Wednesday, February 14th. B. Riley reaffirmed a buy rating on shares of Tutor Perini in a research report on Wednesday, November 1st. Finally, lowered their price target on shares of Tutor Perini from $37.00 to $35.00 and set a buy rating on the stock in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Tutor Perini currently has a consensus rating of Hold and a consensus price target of $31.40.

Tutor Perini (NYSE:TPC) opened at $22.55 on Friday. Tutor Perini has a 1 year low of $21.15 and a 1 year high of $32.70. The company has a market cap of $1,122.56, a PE ratio of 11.68, a P/E/G ratio of 0.84 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07.

In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total value of $640,000.00. Following the transaction, the insider now directly owns 5,798,120 shares of the company’s stock, valued at approximately $148,431,872. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dale Ann Reiss sold 4,829 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $27.28, for a total transaction of $131,735.12. Following the completion of the transaction, the director now directly owns 20,625 shares in the company, valued at $562,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,829 shares of company stock worth $1,400,985. 24.50% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC bought a new position in Tutor Perini in the 4th quarter valued at about $101,000. SG Americas Securities LLC bought a new position in Tutor Perini in the 3rd quarter valued at about $135,000. Bank of Montreal Can increased its holdings in Tutor Perini by 328.5% in the 4th quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock valued at $191,000 after buying an additional 5,788 shares during the period. Victory Capital Management Inc. increased its holdings in Tutor Perini by 119.4% in the 3rd quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock valued at $195,000 after buying an additional 3,743 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Tutor Perini in the 3rd quarter valued at about $207,000. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

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Tutor Perini Company Profile

Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.

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Canaccord Genuity reissued their buy rating on shares of Tutor Perini (NYSE:TPC) in a research note issued to investors on Friday morning. Canaccord Genuity currently has a $32.00 target price on the construction company’s stock.

Other equities analysts have also issued reports about the stock. B. Riley reissued a buy rating on shares of Tutor Perini in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Tutor Perini from a hold rating to a buy rating and set a $24.00 price target on the stock in a research note on Wednesday, February 14th. ValuEngine downgraded shares of Tutor Perini from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, reduced their price target on shares of Tutor Perini from $37.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $31.40.

Tutor Perini (TPC) opened at $22.55 on Friday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. Tutor Perini has a 1-year low of $21.15 and a 1-year high of $32.70. The company has a market cap of $1,122.56, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.84 and a beta of 2.13.

In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $25.60, for a total transaction of $640,000.00. Following the sale, the insider now directly owns 5,798,120 shares in the company, valued at approximately $148,431,872. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dale Ann Reiss sold 4,829 shares of Tutor Perini stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the sale, the director now owns 20,625 shares in the company, valued at $562,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,829 shares of company stock worth $1,400,985. 24.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC acquired a new stake in Tutor Perini during the 4th quarter worth approximately $487,000. Westside Investment Management Inc. boosted its position in Tutor Perini by 8.0% during the 4th quarter. Westside Investment Management Inc. now owns 60,760 shares of the construction company’s stock worth $1,571,000 after buying an additional 4,480 shares during the period. Jane Street Group LLC acquired a new stake in Tutor Perini during the 4th quarter worth approximately $676,000. Two Sigma Investments LP boosted its position in Tutor Perini by 49.6% during the 4th quarter. Two Sigma Investments LP now owns 135,521 shares of the construction company’s stock worth $3,435,000 after buying an additional 44,925 shares during the period. Finally, Guggenheim Capital LLC acquired a new stake in Tutor Perini during the 4th quarter worth approximately $323,000. Institutional investors and hedge funds own 84.85% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.dispatchtribunal.com/2018/02/19/canaccord-genuity-reaffirms-buy-rating-for-tutor-perini-tpc.html.

About Tutor Perini

Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.

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