Tutor Perini (NYSE:TPC) has been assigned a $38.00 target price by DA Davidson in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the construction company’s stock. DA Davidson’s price target would indicate a potential upside of 76.74% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Tutor Perini from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Wednesday, February 14th. ValuEngine cut Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. MKM Partners set a $27.00 price objective on Tutor Perini and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Alembic Global Advisors reissued a “buy” rating on shares of Tutor Perini in a research report on Monday, March 5th. Finally, B. Riley cut their price objective on Tutor Perini from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Tutor Perini presently has an average rating of “Hold” and a consensus price target of $31.38.
Shares of NYSE:TPC opened at $21.50 on Monday. The company has a market cap of $1,070.51, a P/E ratio of 14.93, a P/E/G ratio of 0.98 and a beta of 2.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.94 and a current ratio of 1.94. Tutor Perini has a 12-month low of $20.20 and a 12-month high of $31.92.
Tutor Perini (NYSE:TPC) last announced its earnings results on Tuesday, February 27th. The construction company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Tutor Perini had a return on equity of 5.86% and a net margin of 3.12%. research analysts predict that Tutor Perini will post 2.2 earnings per share for the current fiscal year.
In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 50,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $22.26, for a total value of $1,113,000.00. Following the transaction, the insider now owns 5,748,120 shares of the company’s stock, valued at $127,953,151.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 24.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new position in shares of Tutor Perini during the 4th quarter valued at $101,000. SG Americas Securities LLC purchased a new position in shares of Tutor Perini during the 3rd quarter valued at $135,000. Bank of Montreal Can lifted its position in shares of Tutor Perini by 328.5% during 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 last quarter. Aperio Group LLC lifted its position in shares of Tutor Perini by 21.3% during the 4th quarter. Aperio Group LLC now owns 12,019 shares of the construction company’s stock valued at $305,000 after buying an additional 2,108 shares during the last quarter. Finally, Guggenheim Capital LLC purchased a new position in shares of Tutor Perini during the 4th quarter valued at $323,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
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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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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